ConocoPhillips announces future board of directors for Phillips 66

Source: ConocoPhillips

ConocoPhillips [NYSE:COP] announced today that the following have been elected to serve as the future board of directors for Phillips 66, the downstream company created by the strategic repositioning of ConocoPhillips.

Greg C. Garland, who will serve as chairman, president and CEO of Phillips 66. He was appointed senior vice president, Exploration and Production – Americas for ConocoPhillips in 2010. He was previously president and CEO of Chevron Phillips Chemical Company (CPChem) from 2008 to 2010, having served as senior vice president, Planning and Specialty Products, CPChem, from 2000 to 2008.

J. Brian Ferguson, who retired as chairman of Eastman Chemical Company (Eastman) in 2010 and as CEO of Eastman in 2009. He became the chairman and CEO of Eastman in 2002. He currently serves on the boards of Owens Corning and NextEra Energy Inc.

William R. Loomis Jr., who has been an independent financial advisor since 2009. He was a general partner and managing director of Lazard Freres & Co. from 1984 to 2002, the CEO of Lazard LLC from 2000 to 2001 and a limited managing director of Lazard LLC from 2002 to 2004. He currently serves on the boards of Pacific Capital Bancorp and Limited Brands Inc., and is also a senior advisor to Lazard LLC and China International Capital Corporation.

John E. Lowe, who currently serves as assistant to the CEO of ConocoPhillips, a position he has held since 2008. He previously held a series of executive positions with ConocoPhillips, including executive vice president, Exploration & Production, from 2007 to 2008 and executive vice president, Commercial, from 2006 to 2007. He currently serves on the board of Agrium Inc.

Harold W. McGraw III, who currently serves as chairman, president and CEO of The McGraw-Hill Companies. Prior to his service as chairman, he served as president and CEO from 1998 to 2000 and president and chief operating officer from 1993 to 1998. He currently serves on the boards of The McGraw-Hill Companies, ConocoPhillips and United Technologies Corporation.

Glenn F. Tilton, who currently serves as chairman of the Midwest of JPMorgan Chase & Co. He was chairman and CEO of United Airlines Inc. from 2002 to 2010, having previously spent more than 30 years in increasingly senior roles with Texaco Inc. including chairman and CEO in 2001. He currently serves on the boards of United Continental Holdings Inc. (as non-executive chairman), Abbot Laboratories and Corning Inc.

Victoria J. Tschinkel, who currently serves as chairwoman of 1000 Friends of Florida. She served as state director of the Florida Nature Conservancy from 2003 to 2006, was senior environmental consultant to Landers & Parsons, a Tallahassee, Florida law firm, from 1987 to 2002, and was the secretary of the Florida Department of Environmental Regulation from 1981 to 1987. She currently serves on the board of ConocoPhillips.

“We have assembled a strong board of directors, consisting of individuals with appropriate skills and experiences to meet their governance responsibilities and contribute effectively to our company,” said Greg Garland, designated chairman and CEO of Phillips 66. “Our board reflects a range of talents, diversity and expertise, particularly in the areas of accounting and finance, domestic and international markets, government and regulatory affairs, management and leadership, and petroleum-related industries, sufficient to provide sound and prudent guidance with respect to our operations and interests.”

All elections will be effective at the completion of ConocoPhillips’ repositioning into two separate companies, expected on May 1, 2012. Upon repositioning, Phillips 66 will be an advantaged downstream energy company, comprising segment-leading refining and marketing, midstream and chemicals businesses.


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