Phillips 66 (NYSE: PSX) appointed Howard Ungerleider and Kevin Meyers to its board of directors, effective immediately, following engagement with Elliott Investment Management.

Ungerleider brings over 30 years of financial and operational leadership experience across chemical, packaging and specialty materials sectors. He previously served as president and chief financial officer of Dow Inc. and chief financial officer of DowDuPont, the $86 billion holding company formed through the merger of Dow and DuPont. He currently serves as an operating advisor at Clayton Dubilier & Rice and holds board positions at Air Products, American Airlines and Kyndryl.

Meyers has more than 40 years of oil and gas industry experience. He retired from ConocoPhillips in 2010 after serving as senior vice president, exploration and production, Americas. Prior to ConocoPhillips, he spent 20 years at ARCO, serving as president of ARCO Alaska. Meyers currently serves as a director of Precision Drilling Corporation.

Elliott Investment Management, described as one of Phillips 66's largest investors, expressed support for the appointments. "Elliott believes that Phillips 66's asset quality and market position create a compelling opportunity for value creation," said John Pike and Mike Tomkins, partners at Elliott Investment Management.

The appointments follow the previously announced retirement plans of Glenn Tilton and Marna Whittington, Class II directors who will not stand for re-election at the company's May 2026 annual shareholder meeting. Following that meeting, the board will consist of 14 directors, 13 of whom are independent.

Ungerleider will serve as a Class II director and Meyers as a Class III director. The company's director nominees for election at its 2026 annual meeting will be Ungerleider and other Class II directors Gregory J. Hayes, Charles M. Holley and Denise R. Singleton.