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Elliott Management Targets Phillips 66 Board Seats for Change

5/22/2025

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Summary

Story summary

Elliott Management has made a bold move by claiming two board seats at Phillips 66, signaling its first foray into a US boardroom clash. The activist investor slammed the company's integrated model as wasteful. While Phillips 66 held onto two of its own nominees, Elliott vows to persist in its push for transformative changes ahead.

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Story summary

Elliott Management has made a bold move by claiming two board seats at Phillips 66, signaling its first foray into a US boardroom clash. The activist investor slammed the company's integrated model as wasteful. While Phillips 66 held onto two of its own nominees, Elliott vows to persist in its push for transformative changes ahead.