WASHINGTON (dpa-AFX) - Phillips 66 (PSX) issued a letter to its shareholders. The company said it is fully committed to continuing open engagement with all shareholders. The company also confirmed Elliott has nominated seven directors for election to Phillips 66's Board. The Board intends to put forward a management proposal to declassify the Board at 2025 Annual Meeting.
'The Board continuously and aggressively evaluates the portfolio and other alternatives with a view to maximizing long-term shareholder value - and is willing to take decisive action to achieve this goal,' Phillips 66 stated.
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