Summary
Phillips 66 (PSX) announced on March 9, 2026, a strategic expansion of its Board of Directors, increasing its size from 14 to 16 members with the immediate appointment of two new independent directors: Kevin O. Meyers and Howard I. Ungerleider. Both appointees bring extensive experience in the energy sector and related industries, enhancing the Board's expertise. Dr. Meyers, with a career spanning decades in senior executive and board roles at major energy companies like ConocoPhillips and BG Group, as well as experience in drilling and carbon capture, is appointed to a term expiring in 2027. Mr. Ungerleider, who has held significant financial and executive positions at Dow Inc. and currently serves as an Operating Advisor and board member for prominent companies, is appointed to a term expiring at the upcoming 2026 Annual Meeting. Both directors have been assigned to the Audit & Finance Committee and the Public Policy and Sustainability Committee, signaling a focus on financial oversight and strategic industry trends.
Key Highlights
- 1Phillips 66 expands its Board of Directors from 14 to 16 members.
- 2Two new independent directors, Kevin O. Meyers and Howard I. Ungerleider, have been appointed, effective immediately.
- 3Dr. Meyers brings deep experience from senior roles at ConocoPhillips, BG Group, and advisory positions in drilling and carbon capture.
- 4Mr. Ungerleider has a strong financial background, having served as President and CFO of Dow Inc., and currently holds board positions at Air Products, American Airlines, and Kyndryl.
- 5Both new directors have been appointed to the Audit & Finance Committee and the Public Policy and Sustainability Committee.
- 6The appointments are intended to rebalance the Board into three classes as required by company bylaws.
- 7New directors will receive pro-rated compensation according to the company's standard non-employee director arrangements.