Reported about 6 hours ago
Elliott Investment Management has nominated seven directors to the board of Phillips 66 in an effort to implement changes to improve the company's performance and address a declining stock price. This follows Elliott's previous investment and attempts at reform that included a $2.5 billion stake and proposals for enhancing operational efficiency and corporate governance. The activist firm aims to secure annual elections for all board members and is focusing on governance improvements as part of its strategy.
Source: YAHOO