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PHILLIPS 66 PARTNERS LP

(PSXP)
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PHILLIPS 66 PARTNERS LP : Change in Directors or Principal Officers (form 8-K)

07/21/2021 | 05:14pm EDT

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On July 16, 2021, Chukwuemeka A. Oyolu gave notice of his decision to resign from his position as Vice President and Controller (principal accounting officer) of Phillips 66 Partners GP LLC, the general partner of Phillips 66 Partners LP (the "General Partner").

J. Scott Pruitt will become the Vice President and Controller (principal accounting officer) of the General Partner, succeeding Mr. Oyolu, effective August 4, 2021. Mr. Pruitt, 56, has also been appointed Vice President and Controller (principal accounting officer) of Phillips 66, effective as of the same date. Mr. Pruitt previously served as the General Auditor of Phillips 66 since 2020. Before that, he served as Phillips 66's Assistant Controller, External Reporting and Policy, from 2012 to 2020. Before joining Phillips 66 in 2012, Mr. Pruitt served in several finance leadership roles at ConocoPhillips.

The selection of Mr. Pruitt to serve as the principal accounting officer was not pursuant to any arrangement or understanding with respect to any other person. In addition, there are no family relationships between Mr. Pruitt and any director or executive officer of the General Partner. Mr. Pruitt has not been a party to any transaction with the General Partner requiring disclosure under Item 404(a) of Regulation S-K. Officers or employees of the General Partner who also serve as officers of Phillips 66 do not receive any additional compensation for their service as an officer of the General Partner. As such, Mr. Pruitt will not receive any compensation for his service as principal accounting officer of the General Partner.

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© Edgar Online, source Glimpses

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Sales 2021 1 642 M - -
Net income 2021 636 M - -
Net Debt 2021 4 216 M - -
P/E ratio 2021 12,5x
Yield 2021 10,3%
Capitalization 7 775 M 7 775 M -
EV / Sales 2021 7,30x
EV / Sales 2022 6,81x
Nbr of Employees -
Free-Float 24,2%
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Number of Analysts 11
Last Close Price 34,05 $
Average target price 39,14 $
Spread / Average Target 14,9%
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Managers and Directors
Greg C. Garland Chairman & Chief Executive Officer
Kevin J. Mitchell Chief Financial Officer, Director & Vice President
Timothy D. Roberts Chief Operating Officer, Vice President & Director
Joseph W. O'Toole Independent Director
David Bairrington Independent Director
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