Phillips 66 Board Appoints New Director
Phillips 66 (PSX) appointed Lisa A. Davis as an independent director, effective October 8, 2020. Davis will be part of the human resources and compensation committee and the public policy committee, increasing the board to 11 directors, 10 of whom are independent. With extensive experience in the energy sector, she previously held leadership roles at Siemens AG, Shell, Texaco, and Exxon. Phillips 66 is a diversified energy company with $55 billion in assets as of June 30, 2020, focusing on manufacturing and logistics across various sectors.
- Lisa A. Davis brings significant leadership experience from Siemens AG and other major energy companies.
- Her appointment enhances the board's independent oversight, potentially bolstering corporate governance.
- Concerns may arise about continuity and experience gaps within the board with the addition of a new independent director.
HOUSTON--(BUSINESS WIRE)--The board of directors of Phillips 66 (NYSE: PSX) has appointed Lisa A. Davis to serve as an independent director, effective Oct. 8, 2020. Davis will serve on the human resources and compensation committee and the public policy committee of the board. Following the appointment, the board of Phillips 66 will comprise 11 directors, 10 of whom are independent.
Davis, 56, previously served as a member of the managing board for Siemens AG with responsibility as CEO for Siemens Gas and Power, which operates in more than 80 countries and includes power generation, power services, oil and gas, transmission and new fuels. During her tenure at Siemens, Davis also served as chair and CEO of Siemens Corporation USA and as a member of the board of directors of Siemens Gamesa Renewable Energy SA.
Prior to joining Siemens, Davis served in various capacities and leadership positions with Royal Dutch Shell, Texaco and Exxon Corporation in upstream and downstream operations and project development. Davis currently serves on the boards of directors of Air Products and Chemicals, Inc., Penske Automotive Group and Kosmos Energy Ltd.
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 14,500 employees committed to safety and operating excellence. Phillips 66 had
