8-KLeadership Changes

Phillips 66 8-K Report, Executive Changes (Oct 23, 2015)

Filed October 23, 2015For Securities:PSX

Summary

Phillips 66 (PSX) filed an 8-K on October 23, 2015, to report significant changes in its executive leadership. Greg G. Maxwell, the current Executive Vice President, Finance and Chief Financial Officer (CFO), announced his intention to retire effective December 31, 2015. This marks the end of Mr. Maxwell's tenure in this key financial role. Following Mr. Maxwell's planned retirement, the Board of Directors has appointed Kevin J. Mitchell as the new Executive Vice President, Finance and CFO, effective January 1, 2016. Mr. Mitchell brings a strong financial background to the role, having most recently served as the Company's Vice President of Investor Relations since September 2014. His prior experience includes various finance and accounting roles at ConocoPhillips and Conoco, including General Auditor and leadership positions in upstream finance and treasury.

Key Highlights

  • 1Greg G. Maxwell, Executive Vice President, Finance and CFO, will retire effective December 31, 2015.
  • 2Kevin J. Mitchell has been appointed as the new Executive Vice President, Finance and CFO, effective January 1, 2016.
  • 3Mr. Mitchell has served as PSX's Vice President, Investor Relations since September 2014.
  • 4Mr. Mitchell possesses extensive experience in finance and accounting roles within ConocoPhillips and Conoco.
  • 5His prior roles include General Auditor of ConocoPhillips and various senior finance positions.
  • 6There are no disclosed family relationships or material interests between Mr. Mitchell and existing officers or directors.
  • 7No new material plans, contracts, or arrangements were entered into in connection with Mr. Mitchell's appointment.

Frequently Asked Questions

The filing states that Greg G. Maxwell announced his intention to retire from his position as Executive Vice President, Finance and Chief Financial Officer, effective December 31, 2015. The specific reasons for his retirement are not detailed in this filing.

Kevin J. Mitchell has been appointed as the new Executive Vice President, Finance and Chief Financial Officer, effective January 1, 2016.

Kevin J. Mitchell has a strong financial background. He most recently served as Phillips 66's Vice President of Investor Relations. Prior to that, he held various finance and accounting positions at ConocoPhillips and Conoco, including General Auditor and leadership roles in upstream finance, strategy, and treasury. He is also a Certified Internal Auditor.

The filing explicitly states that there are no family relationships between Mr. Mitchell and any director or executive officer of the Company, and he has no direct or indirect material interest in any transaction requiring disclosure. Additionally, no material new agreements were made in connection with his appointment.