Phillips 66 Appoints Two New Directors
The board of directors of Phillips 66 (PSX) has appointed Denise R. Cade and Douglas T. Terreson as independent directors, effective July 14, 2021. Cade will serve on the audit and finance committee as well as the public policy and sustainability committee, while Terreson will join the human resources and compensation committee along with the public policy and sustainability committee. This brings the total number of directors to 11, with 10 being independent. Cade and Terreson bring extensive experience from various sectors, enhancing the board's expertise in legal and energy industries.
- Cade and Terreson enhance board expertise with diverse backgrounds.
- Cade's legal experience benefits the audit and finance committee.
- Terreson's energy sector experience strengthens the board's strategic insight.
- Concerns about potential continuity and experience gaps with new board members.
The board of directors of Phillips 66 (NYSE: PSX) has appointed Denise R. Cade and Douglas T. Terreson to serve as independent directors, effective July 14, 2021. Cade will serve on the audit and finance committee and the public policy and sustainability committee of the board, and Terreson will serve on the human resources and compensation committee and the public policy and sustainability committee of the board. Following the appointments, the board of Phillips 66 will comprise 11 directors, 10 of whom are independent.
Cade is the Senior Vice President, General Counsel and Corporate Secretary of IDEX Corporation, a position she has held since 2015. Prior to joining IDEX, she served as Senior Vice President, General Counsel, Corporate Secretary and Chief Compliance Officer at SunCoke Energy, Inc. and its controlled company SunCoke Energy Partners, L.P., where she was on the board of directors, from 2011 to 2015. Prior to joining SunCoke Energy, Cade held several positions at PPG Industries, Inc., including Assistant General Counsel and Corporate Secretary, Chief Securities and Finance Counsel, Chief M&A Counsel, and General Counsel of the Glass and Fiberglass Division. Prior to joining PPG, Cade was a partner at Shaw Pittman LLP, a law firm. Cade currently serves on the board of directors of Teledyne Technologies Incorporated.
Terreson is a former Senior Advisor at Evercore, a position he held since 2021. Terreson previously served as the Head of Global Energy at Evercore ISI, from 2016 until 2021. Terreson joined International Strategy & Investment Group (ISI), which was acquired by Evercore in 2014, in 2009, after 15 years at Morgan Stanley, where he managed the Global Energy Group. Prior to that, he managed Putnam Investments’ energy mutual fund. Terreson began his career as an engineer with Schlumberger Limited. Terreson is the chair of the investment committee of the Mississippi State University Foundation Board.
About Phillips 66
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company’s master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,200 employees committed to safety and operating excellence. Phillips 66 had
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