Activist Elliott has accepted Phillips 66's performance goals -CEO
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HOUSTON, March 26 (Reuters) - Activist investor Elliott Investment Management has accepted the performance improvement plan that U.S. oil refiner Phillips 66 laid out to boost shareholder returns and share price, Chief Executive Mark Lashier said in an interview on Tuesday.
"They've bought into our plans that we already had in place," the CEO of one of the largest U.S. oil refiners said in a briefing at its Houston headquarters.
Elliott sent a letter to the company's board last fall, disclosing a $1 billion stake in the company, and calling for additions to its board of directors and a focus on improving its oil refining business. (Reporting by Arathy Somasekhar)
