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Posted: Oct 14, 2025 2:41 PMUpdated: Oct 14, 2025 5:37 PM
Phillips 66 CFO: Company Remains Strong After Proxy Fight, Bartlesville Remains Critical
Nathan Thompson
Phillips 66 Executive Vice President and Chief Financial Officer Kevin Mitchell spoke Tuesday during a Bartlesville Chamber of Commerce Forum at Tri County Tech's Event Center.
In an exclusive interview with Bartlesville Radio, Mitchell says Phillips 66 has weathered a storm after Elliott Investment Group attempted a reformation of the company's board of directors. Elliott's stated goal was to separate Phillips 66's integrated assets to potentially strengthen investor return.
Elliott's bid landed two members on the board of directors, but Mitchell says Phillips 66 has shown their current business model and assets are strong.
Mitchell says over time, he is confident Phillips 66's investors will see the higher return and a strengthened bottom line. However, Mitchell says Phillips 66 continuously evaluates market conditions. If there needs to be changes to the company's business model, Phillips 66 would do so.
Approximately 2,000 Phillips 66 employees work in Oklahoma, with around 1,100 in Bartlesville and most of the remainder at the refinery in Ponca City.
Mitchell says the Bartlesville operation has the second-largest employee base for Phillips 66 outside of Houston. He says Bartlesville is critical to the company's success and will continue to be so in the future.
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