Phillips 66 said its Board of Directors appointed Ann M. Kluppel as Vice President and Controller and principal accounting officer, effective May 13, 2024, with the board making the appointment on April 3, 2024.

1. 01

   Phillips 66 said its Board of Directors appointed Ann M. Kluppel as Vice President and Controller and principal accounting officer, effective May 13, 2024, with the board making the appointment on April 3, 2024.

2. 02

   Phillips 66 said Kluppel will succeed J. Scott Pruitt, who announced on April 1, 2024 that he plans to retire from the company effective May 31, 2024.

3. 03

   The company said Ms. Kluppel, 56, joined it at the time of its spin-off from ConocoPhillips in 2012 and has served as General Auditor since August 2021. Before that, she was Managing Director, Corporate Finance, from January 2021 to August 2021, and Manager, Midstream FP&A, from August 2018 to December 2020.

4. 04

   The company said Kluppel's target opportunity under the VCIP will increase to 50% of her base salary (prorated for 2024), and her LTIP grant will be valued at 160% of her base salary beginning in 2025, of which 70% is expected to be granted in performance share units and 30% in restricted stock units. It also said her outstanding performance share program awards will be increased, on a pro-rata basis, to 112% of her base salary.

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