Phillips 66 Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Phillips 66 on February 13, 2024. The report discloses a corporate governance event regarding the appointment of a new director to the Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
The Board of Directors increased its size from 13 to 14 members. Robert W. Pease was appointed as a new independent director, effective immediately. He was assigned to the Audit and Finance Committee, Nominating and Governance Committee, and Public Policy and Sustainability Committee. His term expires at the 2025 annual meeting of shareholders.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding future performance. No risks or contingencies were disclosed in this specific report. Mr. Pease will receive pro-rated compensation in accordance with standard arrangements for non-employee directors.
Key Facts for Investor Verification
- Robert W. Pease has been appointed to the Phillips 66 Board of Directors.
- Mr. Pease brings prior executive experience from Cenovus Energy, Motiva Enterprises, and Shell.
- The Board size has increased to 14 directors.
- Mr. Pease serves on three key committees: Audit and Finance, Nominating and Governance, and Public Policy and Sustainability.
- No financial data or operational metrics are included in this filing.