Phillips 66 forms CEO transition plans

April 14, 2022 By    
Greg Garland and Mark Lashier

Garland (left) and Lashier

Phillips 66 named Mark Lashier as president and CEO, effective July 1.

Lashier is the company’s current president and COO. He will succeed Greg Garland, who will remain as executive chairman of the board of directors until he retires in 2024, the company says. Garland has led Phillips 66, which is headquartered in Houston, for the past 10 years.

“Greg’s leadership and commitment to Phillips 66, our employees and our investors have been invaluable,” says Glenn Tilton, lead independent director on Phillips 66’s board of directors and chair of the board’s Nominating & Governance Committee. “He embodies our values of safety, honor and commitment and our vision to provide energy and improve lives.”

Garland assumed the chairman and CEO role in May 2012. Under his leadership, the company has returned $29 billion to shareholders through dividends, repurchases and exchanges, according to Phillips 66.

“On behalf of the board of directors, I want to thank Greg for his outstanding leadership as chairman and CEO,” Tilton says. “He stood up Phillips 66 as an independent company and created a leading diversified energy manufacturing and logistics company while investing for the future and delivering strong financial returns.”

Lashier joined Phillips 66 in April 2021. According to the company, he has more than 30 years of energy industry experience. Prior to his role at Phillips 66, Lashier served as president and CEO of CPChem from 2017 to 2021. Prior to that role, he held several leadership positions at CPChem, including executive and senior vice president ranks. He began his career with Phillips Petroleum Co. as a research engineer.

“Mark is the right leader at the right time for Phillips 66,” Garland says. “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.”

Lashier says he plans to continue to build on the success Garland has had since the company was established in 2012.

“Greg’s leadership in fostering a culture of operating excellence and financial strength will benefit us for decades,” Lashier says. “That foundation is critical as we face the opportunities and challenges of the next 10 years. I am excited to embark on this new role and leverage the talent of our team and the strength of our assets as we continue to deliver shareholder value.”

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About the Author:

Carly Bemer (McFadden) was the managing editor at LP Gas magazine.

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