Phillips 66 rises after proposing new board members amid Elliott dispute
U.S.-based oil refiner Phillips 66's PSX.N shares rise 1.9% to $127.92
Company nominates four executives to stand for election as directors at its upcoming annual shareholders' meeting
Activist investor Elliott filed a lawsuit against Phillips on Tuesday, seeking to have four directors stand for election
PSX nominates Nigel Hearne, John Lowe, Robert Pease and Howard Ungerleider to stand for election as directors to its board
Lowe and Pease are currently serving as directors
Ungerleider and Hearne have been nominated in place of Gary Adams and Denise Ramos, who are not standing for re-election and will retire from board
Company says they will be up against Elliott's slate of picks once that is finalized
PSX also discloses CEO Mark Lashier was paid $22.6 million in 2024, up 16.4% from 2023
Including sessions moves, stock up 12.1% YTD
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