Phillips 66 Form 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed by Phillips 66 on October 19, 2015, reporting corporate governance changes effective late 2015 and early 2016. The filing addresses the departure of the Chief Financial Officer and the appointment of a successor.
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 executive personnel changes and contains no financial performance data.
Material Changes
- Departure: Greg G. Maxwell, Executive Vice President, Finance and Chief Financial Officer, announced his retirement effective December 31, 2015.
- Appointment: Kevin J. Mitchell was appointed as Executive Vice President, Finance and Chief Financial Officer, effective January 1, 2016.
Management Commentary and Background
Mr. Mitchell, age 49, joined Phillips 66 in September 2014 as Vice President, Investor Relations. Prior to this, he held various finance and accounting roles at ConocoPhillips since 1991, including General Auditor and Vice President of Exploration and Production Strategy. He is a Certified Internal Auditor and a fellow with the Chartered Institute of Management Accountants. The Board confirmed no material plans, contracts, or arrangements were entered into in connection with his appointment, and no family relationships exist between Mr. Mitchell and other directors or officers.
Key Facts for Investor Verification
- Confirm the exact transition date for CFO duties between Greg G. Maxwell and Kevin J. Mitchell.
- Review subsequent filings for any changes to the compensation structure for the new CFO.
- Verify Mr. Mitchell's prior performance record at ConocoPhillips during his tenure as General Auditor.