- Push-out Score determined
- After about 10 years in the position
- Accolades, praise and thanks for Garland
- Mark Lashier taking over
- Garland will remain as Executive Chairman at Phillips 66
- Garland said 92 words
(exechange) — Houston, Texas, April 12, 2022 — Greg Garland, chief executive of Phillips 66, leaves his position. As announced by Phillips 66 in a news release and in a regulatory filing published on Tuesday, April 12, 2022, Greg C. Garland leaves his post as chief executive officer at the fourth largest U.S. oil refiner, after about 10 years in the role, effective July 1, 2022.
Greg Garland’s duties as CEO will be taken over by Mark E. Lashier, currently President and Chief Operating Officer at Phillips 66.
“Navigate and thrive in the energy transition”
Greg Garland’s departure from the CEO post is explained as follows. Garland said: “Mark is the right leader at the right time for Phillips 66. 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.”
Garland will remain as Executive Chairman at Phillips 66
“Phillips 66 (NYSE: PSX) has named its current President and Chief Operating Officer, Mark Lashier, as President and Chief Executive Officer effective July 1. Lashier will succeed Greg Garland, who will remain as Executive Chairman of the Board of Directors until he retires in 2024,” Phillips 66 said.
Phillips 66 said: “Greg C. Garland, Chairman of the Board and Chief Executive Officer of Phillips 66 (the “Company”) announced today that he intends to retire from his position as Chief Executive Officer of the Company effective July 1, 2022.”
Share price decline since April 2019
The announcement follows a decline in Phillips 66’s share price of 13% since April 2019.
In the position of CEO since 2012
Greg Garland became CEO of the Company in 2012.
Greg Garland is chairman and CEO of Phillips 66, a diversified energy manufacturing and logistics company.
A chemical engineer, Garland has 40 years of industry experience in technical and executive leadership positions within the oil and natural gas and chemicals industries.
Previously, Garland had served as senior vice president, Exploration and Production, Americas, for ConocoPhillips since 2010.
Prior to joining ConocoPhillips, Garland was president and chief executive officer of Chevron Phillips Chemical Company, which is now a joint venture between Phillips 66 and Chevron.
Before his election to that position, Garland served Chevron Phillips as senior vice president, Planning & Specialty Chemicals.
His prior experience includes serving as general manager of Qatar/Middle East for Phillips, a position he assumed in 1997.
From 1995 to 1997, he served as general manager of natural gas liquids after serving as manager of planning and development in planning and technology.
From 1992 to 1994, he was manager of the K-Resin® business unit.
Garland began his career with Phillips in 1980 as a project engineer for the Plastics Technical Center.
He later worked as a sales engineer for Phillips’ plastics resins, business service manager for advanced materials, business development director, and olefins manager for chemicals.
He is the chairman and CEO of Phillips 66 Partners.
He serves on the board of directors for Phillips 66 Partners, DCP Midstream, Amgen, the Barbara Bush Houston Literacy Foundation, the Greater Houston Partnership, Junior Achievement for Southeast Texas, and the National Petroleum Council.
He is chairman of American Petroleum Institute and a member of the engineering advisory board for Texas A&M University.
He is also one of the founding CEOs of the American Cancer Society’s CEOs Against Cancer initiative in the U.S. Gulf Coast region and a member of the Board of Visitors for MD Anderson.
Garland received a Bachelor of Science degree in chemical engineering from Texas A&M University in 1980.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Greg Garland’s move on a scale of 0 to 10.
exechange reached out to Phillips 66 and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 16.2022 ($).