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Phillips 66 (NYSE:PSX) announced that Glenn Tilton and Marna Whittington have informed the company that they intend to retire and will not stand for re-election to the Phillips 66 Board of Directors at the company's next annual meeting of shareholders in May 2026.
"Glenn and Marna have been a trusted source of counsel to me and the entire Phillips 66 team. They will be missed greatly," said Mark Lashier, Phillips 66 chairman and CEO. "As lead independent director, Glenn has been a singular presence in shaping this company and its leaders. His steady hand through pivotal moments will have an impact for decades to come. Marna's sharp insight and pragmatic approach always made her an invaluable partner in the boardroom.
"On behalf of the entire board, we thank them for their dedication, time, extensive business knowledge and stewardship while wishing them well on their retirement," Lashier concluded.
"Glenn and Marna have had a tremendous impact on this business and their absences will be felt in the boardroom. We all thank them for their service and wish them well," said Greg Hayes, chair of the Nominating and Governance Committee. "As we look ahead, we are committed to continuing the board's thoughtful evolution, started under Glenn's leadership, to identify outstanding leaders who will assure that shareholder value creation remains the board's foremost priority."
"Working with the leaders of Phillips 66 to guide this company since this journey started in 2012 is a genuine highlight of my career," said Mr. Tilton. "In our annual outreach to shareholders, Marna and I would be sure the voice of our investors remained foremost in our board discussions. Mark and his team, with the continuing guidance of this board through Greg's leadership, have my complete confidence as I believe they are positioned to reliably deliver for shareholders for decades to come."
"It has been a true privilege to work alongside Mark, my fellow board members and countless current and former members of the Phillips 66 team during its growth over the years," said Ms. Whittington.
Both Mr. Tilton and Ms. Whittington are Class II directors with terms concluding in 2026. In compliance with the Phillips 66 governing documents, the company intends to nominate at least four directors for election at the company's 2026 Annual Meeting of Shareholders. Mr. Hayes is expected to assume the role of Lead Independent Director upon Mr. Tilton's retirement in 2026.
About Phillips 66
Phillips 66 (NYSE: PSX) is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company's portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn.
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