Phillips 66 has issued a letter to its shareholders ahead of the Annual Meeting scheduled for May 21st, urging them to vote using the WHITE proxy card. The company recommends voting "FOR" all four of its nominees to the Board of Directors, emphasizing their deep industry expertise and independent oversight capabilities. Phillips 66 also advises shareholders to support management's proposal to declassify the Board of Directors and to vote "AGAINST" Elliott's proposal for annual director resignations, citing potential legal and reputational risks. The company highlights its commitment to long-term shareholder value and the importance of selecting the right board leadership to guide its future transformation.
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