- Greg Garland will step down as Chief Govt Officer on July 1 after 10 years on the main firm; Will proceed as Govt Chairman of the Board of Administrators
- Mark Lashear, present President and Chief Working Officer, will assume the function of President and Chief Govt Officer
HOUSTON-(BUSINESS WIRE)–Phillips 66 (NYSE:PSX) has named its present President and Chief Working Officer, Mark Lashear, as President and Chief Govt Officer with impact from July 1. Lashier will exchange Greg Garland, who will stay as government. Chairman of the Board of Administrators till his retirement in 2024.
This press launch accommodates multimedia. View the complete launch right here: https://www.businesswire.com/information/residence/20220412005910/en/
Greg Garland (Photograph: Phillips 66)
Garland has led the Philips 66, headquartered in Houston, for the previous 10 years.
“Greg’s management and dedication to Philips 66, our staff and our buyers is invaluable,” mentioned Glen Tilton, Lead Unbiased Director on the Philips 66 Board of Administrators and Chairman of the Board’s Nominating and Governance Committee. “He embodies our values of safety, respect and dedication and our imaginative and prescient to offer vitality and enhance lives.”
Since Garland assumed the function of President and CEO in Might 2012, Philips 66 has recorded plenty of notable achievements. The corporate has:
- Turn out to be an trade chief in operational excellence, together with security, reliability and environmental administration;
- Main disciplined capital allocation within the vitality enterprise, focusing on 60% money circulate within the enterprise whereas returning 40% to shareholders;
- returned $29 billion to shareholders by way of dividends, share repurchases and exchanges;
- raised its dividend 10 instances for a CAGR of 17%;
- grew its midstream enterprise, establishing a number one place within the crude and NGL worth chains;
- Based a value-based group that’s true to its imaginative and prescient of offering vitality and bettering lives.
“On behalf of the Board of Administrators, I wish to thank Greg for his excellent management as Chairman and CEO,” Tilton continued. “They constructed Philips 66 as an impartial firm and constructed a number one diversified vitality manufacturing and logistics firm, whereas investing for the longer term and delivering sturdy monetary returns.”
Mark Lashear (Photograph: Phillips 66)
Lashier joined Philips 66 in April 2021 as President and Chief Working Officer.
“Mark Phillips is the precise chief on the proper time for the 66,” Garland mentioned. “They’ve demonstrated a robust observe report of delivering progress and driving excellence in each monetary and operational outcomes. He’ll lead an organization that has a strong technique, confirmed observe report, sturdy management, excellent staff and can efficiently navigate and thrive within the vitality transition. ,
“I’ve identified Mark for a very long time,” Garland continued. “We now have a superb relationship primarily based on belief and respect, and I am assured that Philips 66 will serve Philips 66 effectively, our staff, our communities, and our shareholders.”
Lashier mentioned he plans to proceed constructing on Garland’s success for the reason that firm’s founding in 2012.
“Greg’s management in fostering a tradition of working excellence and monetary power will profit us for many years,” Lashier mentioned. “This basis is necessary as we face the alternatives and challenges of the subsequent 10 years. I’m excited to embrace this new function and to leverage the skills of our staff and the power of our property as we proceed to ship shareholder worth.” Huh. ”
About Greg Garland
Garland has served because the President and Chief Govt Officer of Philips 66 since 2012. A chemical engineer, he beforehand served as Senior Vice President, Exploration and Manufacturing, America for ConocoPhillips and President and Chief Govt Officer of Chevron Phillips Chemical Firm, LLC (CPchem). ), a three way partnership between Philips 66 and Chevron. He started his profession in 1980 as a Challenge Engineer for the Plastics Technical Middle with the Philips Petroleum Firm. He serves on a number of philanthropic boards, together with the Barbara Bush Houston Literacy Basis, the Larger Houston Partnership, Junior Achievement of Southeast Texas, and the Board of Guests to MD Anderson.
Mark Lashier. about
Lashier joined Philips 66 in April 2021 as president and chief working officer. He has over 30 years of expertise within the vitality trade. Lassier served because the President and Chief Govt Officer of CPKM from 2017 to 2021. Previous to that function, he held a number of management positions at CPKam, together with Govt Vice President for Olefins and Polyolefins and Senior Vice President for Specialties, Aromatics and Styrenics. He started his profession as a analysis engineer with the Philips Petroleum Firm.
Philips 66. about
Philips 66 is a diversified vitality manufacturing and logistics firm. With a portfolio of midstream, chemical substances, refining, and advertising and specialty companies, the corporate processes, transports, shops, and markets fuels and merchandise globally. Headquartered in Houston, the corporate has 14,000 staff who’re dedicated to security and operational excellence. Phillips 66 had $56 billion in property as of December 31, 2021. For extra info, go to www.phillips66.com or observe us on Twitter. @Phillips66Co,
Jeff Dietert (investor)
Shannon Holly (investor)
Thaddeus Herrick (media)
Supply: Philips 66