Friday, 10 Oct 2025
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
logo logo
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
  • 🔥
  • Trump
  • VIDEO
  • House
  • White
  • ScienceAlert
  • Trumps
  • Watch
  • man
  • Health
  • Season
Font ResizerAa
American FocusAmerican Focus
Search
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
Follow US
© 2024 americanfocus.online – All Rights Reserved.
American Focus > Blog > Economy > Proxy adviser ISS backs Elliott in fight against Phillips 66
Economy

Proxy adviser ISS backs Elliott in fight against Phillips 66

Last updated: May 12, 2025 5:55 pm
Share
Proxy adviser ISS backs Elliott in fight against Phillips 66
SHARE

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

Activist investor Elliott Management has garnered the support of influential proxy adviser Institutional Shareholder Services for all four board nominees in its battle against oil refiner Phillips 66, as reported by the Financial Times.

ISS, known for advising major money managers like BlackRock on proxy voting, has recommended that Phillips 66 shareholders vote in favor of Elliott’s four board nominees over the refiner’s candidates. Elliott’s nominees include industry veterans Brian Coffman, Sigmund Cornelius, Michael Heim, and Stacy Nieuwoudt.

The ISS report highlighted concerns about the lack of independent oversight of management within Phillips 66’s board. Elliott has been urging investors to support its proposals for asset sales, refining business performance improvements, and governance reforms.

Elliott, which increased its stake in Phillips 66 to $2.5bn this year, criticized the company for not fulfilling its promises, such as adding independent directors. Glass Lewis, another proxy adviser, also backed three of Elliott’s nominees alongside one of Phillips 66’s candidates.

The upcoming annual meeting on May 21 will see shareholders deciding on the board composition, with ISS questioning the independence of director Bob Pease and criticizing the company’s governance practices. Phillips 66’s stock price currently stands at just over $118, with Elliott emphasizing the company’s underperformance compared to industry peers.

Past proxy battles involving Elliott, like those with Hess and Southwest Airlines, were resolved before a vote, suggesting potential negotiations in the Phillips 66 case. Both Elliott and Phillips 66 declined to comment, while ISS did not provide an immediate response to requests for comment.

See also  Alimentation Couche-Tard drops its $46bn pursuit of 7-Eleven owner

The ongoing saga between Elliott Management and Phillips 66 underscores the importance of shareholder activism in corporate decision-making and the impact it can have on company strategies and governance. Stay tuned for updates on this high-stakes proxy battle.

TAGGED:adviserbacksElliottfightISSPhillipsproxy
Share This Article
Twitter Email Copy Link Print
Previous Article U.K. Funds Geoengineering Experiments as Global Controversy Grows U.K. Funds Geoengineering Experiments as Global Controversy Grows
Next Article Why There’s Speculation Jordon Hudson Has Been Lying About Her Age Why There’s Speculation Jordon Hudson Has Been Lying About Her Age
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

Could Google’s Veo 3 be the start of playable world models?

Google's Veo 3 Model Could Potentially Revolutionize Video Game Development Demis Hassabis, CEO of Google’s…

July 3, 2025

17 Rich Mom Fall Shoes From Amazon That Are Actually Comfy

Celebrities like Nicki Hilton and Katie Holmes are setting the trend for comfy shoes this…

October 18, 2024

Donald Trump’s Net Worth Doubled In October To $8 Billion

Donald Trump's Net Worth Doubles to $8 Billion in October Former US President Donald Trump's…

October 30, 2024

The cost of a home soared in nearly 90 percent of US cities, study shows

Homeownership Costs on the Rise Across the United States A recent study has shown that…

February 8, 2025

A Billion People Need Vision Care. What A New Bloomberg Effort Will Do

The new Vision Initiative, funded by Bloomberg Philanthropies, will enhance Warby Parker's Pupils Project, which…

September 28, 2025

You Might Also Like

Trump’s Former National Security Adviser John Bolton Expected To Face Criminal Charges for Mishandling Classified Information in Coming Days: Report | The Gateway Pundit | by Jim Hᴏft
Politics

Trump’s Former National Security Adviser John Bolton Expected To Face Criminal Charges for Mishandling Classified Information in Coming Days: Report | The Gateway Pundit | by Jim Hᴏft

October 10, 2025
Meme stock resurgence prompts return of central meme investment fund
Economy

Meme stock resurgence prompts return of central meme investment fund

October 10, 2025
Sugar Prices Retreat on a Forecast for a Global Sugar Surplus
Economy

Sugar Prices Retreat on a Forecast for a Global Sugar Surplus

October 10, 2025
The rogue heroes fight arcane magic in the first trailer for The Mighty Nein
Tech and Science

The rogue heroes fight arcane magic in the first trailer for The Mighty Nein

October 10, 2025
logo logo
Facebook Twitter Youtube

About US


Explore global affairs, political insights, and linguistic origins. Stay informed with our comprehensive coverage of world news, politics, and Lifestyle.

Top Categories
  • Crime
  • Environment
  • Sports
  • Tech and Science
Usefull Links
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA

© 2024 americanfocus.online –  All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?