Phillips 66 is coming under new leadership after the company announced President and CEO Greg Garland will become Executive Chairman of the Board of Directors until his retirement in 2024.
Mark Lashier, President and Chief Operating Officer will take over as the company’s new President and CEO effective July 1, according to an announcement made Wednesday.
Garland has led Phillips 66, which is headquartered in Houston, for the past 10 years.
“Greg’s leadership and commitment to Phillips 66, our employees and our investors have been invaluable,” said Glenn Tilton, lead Independent Director on the Phillips 66 Board of Directors and chair of the Board’s Nominating and Governance Committee. “He embodies our values of safety, honor and commitment and our vision to provide energy and improve lives.”
“On behalf of the Board of Directors, I want to thank Greg for his outstanding leadership as Chairman and CEO,” Tilton continued. “He stood up Phillips 66 as an independent company and created a leading diversified energy manufacturing and logistics company, while investing for the future and delivering strong financial returns.”
Lashier joined Phillips 66 in April 2021 as President and Chief Operating Officer.
“Mark is the right leader at the right time for Phillips 66,” Garland said. “He has demonstrated a strong track record of delivering growth and driving excellence in both financial and operating results. He will lead a company that has a solid strategy, proven track record, strong leadership, outstanding employees and will successfully navigate and thrive in the energy transition.”
Lashier said he planned to continue to build on the success Garland has had since the company was established in 2012.
“Greg’s leadership in fostering a culture of operating excellence and financial strength will benefit us for decades,” Lashier said. “That foundation is critical as we face the opportunities and challenges of the next 10 years. I am excited to embark on this new role and leverage the talent of our team and the strength of our assets as we continue to deliver shareholder value.”
Garland has served as Chairman and Chief Executive Officer of Phillips 66 since 2012. A chemical engineer, he previously served as Senior Vice President, Exploration and Production, Americas for ConocoPhillips and as President and Chief Executive Officer of Chevron Phillips Chemical Company, LLC (CPChem), a joint venture between Phillips 66 and Chevron. He began his career with Phillips Petroleum Company in 1980 as a project engineer for the Plastics Technical Center.
Lashier joined Phillips 66 in April of 2021 as President and Chief Operating Officer. He has over 30 years of energy industry experience. Lashier served as President and Chief Executive Officer of CPChem from 2017 to 2021. Prior to that role, he held several leadership positions at CPChem, including Executive Vice President of Olefins and Polyolefins and Senior Vice President of Specialties, Aromatics and Styrenics. He began his career with Phillips Petroleum Company as a research engineer.
Source: Business Wire