Pick your duel location
Tell me sir, where would like your conflict? Ma’am?
Would you like it…
In front of a meeting of your organization’s shareholders?
In front of a senate subcommittee meeting?
At the local town hall?
A staff meeting?
Or while having a one-to-one conversation with someone you trust? Someone who will level with you, tell you that your results stink, or that your fancy emperor/empress clothes are transparent… and you need to make a positive change.
Let’s build for resilience.
Let’s strengthen organizations on our own terms.
Don’t wait for an activist or the market to decide it’s time for disruption.
Phillips 66 is in the midst of a multi-year duel with Elliott Investment Management, an activist investor, who after yesterday’s shareholder meeting now has 2 more board seats. The FT indicates the 3 largest investors: Blackrock, State Street, and Vanguard own 23% of the company. Retail investors own 25%. Fortune reports that Elliot owns 6%.
Link to Financial Times article:
https://www.ft.com/content/17ce84c5-030e-4727-a1ac-3659fff4cfbf
Link to the Fortune article:
https://fortune.com/article/phillips-66-elliott-proxy-battle-split-vote/
Here’s link to Phillips 66 April 2025 Investor Presentation, see summary of the duel on page 3: