Phillips 66 (PSX) disclosed earlier that on February 13, Elliott Associates submitted to the company notice of its nomination of director candidates to stand for election to the company’s board at its annual meeting of shareholders and its intent to submit a non-binding business proposal to be made at the meeting, requesting that the board adopt an annual election policy for directors. Phillips 66 said its Nominating and Governance Committee will review the notice and the board will present its formal recommendations.
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