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Top related persons:
Phillips - 2 Elliott - 2 John Pike - 2 Mike Tomkins - 2 CNBC's David Faber - 1 Mark Lashier's - 1 Bing Guan - 1 Mark Lashier - 1
Top related locs:
Los Angeles Carson , California U.S Houston Providence New York Bengaluru
Top related orgs:
Elliott Investment Management - 2 Phillips - 2 Marathon Petroleum - 2 Valero - 1 Los - 1 Los Angeles Refinery - 1 Energy - 1 Exxon Mobil - 1

Search resuls for: "John Pike"


2 mentions found


☆ Elliott takes $1 billion stake in Phillips 66, seeks two board seats
  + stars: | 2023-11-29 | by ( Spencer Kimball | ) www.cnbc.com   time to read: +2 min
Elliott Investment Management has taken a $1 billion stake in Phillips 66 and is seeking as many as two board seats in a push to improve the company's performance, according to a Wednesday letter from the activist investor. Elliott's push for the board seats comes as Phillips has underperformed its competitors Marathon Petroleum and Valero . Elliott backed CEO Mark Lashier's plan to improve the company's performance. The CEO plans to do this through a more than $1 billion improvement in Phillips' refining segment, selling $3 billion in noncore assets and increasing the company's long-term capital return policy. Elliott said Phillips 66's stock has an upside of 75% from its last closing price of $118 if the company executes on these goals.
Persons: Phillips, CNBC's David Faber, Elliott, John Pike, Mike Tomkins, Mark Lashier's Organizations: Elliott Investment Management, Phillips, Marathon Petroleum, Valero
☆ Elliott takes $1 bln stake in US oil refiner Phillips 66, urges board revamp
  + stars: | 2023-11-29 | by ( Svea Herbst-Bayliss Laura Sanicola | Svea Herbst-Bayliss | Laura Sanicola | ) www.reuters.com   time to read: +4 min
A general view of the Phillips 66 Company's Los Angeles Refinery, which processes domestic & imported crude oil into gasoline, aviation and diesel fuels, in Carson, California, U.S., March 11, 2022. REUTERS/Bing Guan/File Photo Acquire Licensing RightsNov 29 (Reuters) - Elliott Investment Management has taken a $1 billion stake in Phillips 66 and is urging the U.S. oil refiner and pipeline operator to revamp its board to boost lagging performance. Phillips 66 has lagged its U.S. refining rivals at a time when fuel demand and margins have soared for the industry. Phillips 66 Chief Executive Mark Lashier acknowledged discussions with Elliott but did not say whether the company was open to adding two Elliott-recommended directors to its board. Phillips 66 currently has 13 board members.
Persons: Bing Guan, Phillips, Mark Lashier, Elliott, Lashier, John Pike, Mike Tomkins, Garfield Miller, Miller, Svea Herbst, Bayliss, Laura Sanicola, Gary McWilliams, Anil D'Silva, Bernadette Baum, Mark Porter Organizations: Phillips, Los, Los Angeles Refinery, Elliott Investment Management, Marathon Petroleum, Energy, Exxon Mobil, Aegis Energy Advisors, Elliott, Svea, Thomson Locations: Los Angeles, Carson , California, U.S, Houston, Providence, New York, Bengaluru
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