Phillips 66 Board Elects New Directors

The board of directors of Phillips 66 (NYSE: PSX) has elected Denise L. Ramos and Gary K. Adams to serve as independent directors. The election on Oct. 6, 2016, increases the total number of Phillips 66 directors to 10.

Ramos will serve on the Audit and Finance Committee, the Nominating and Governance Committee and the Public Policy Committee. Adams will serve on the Human Resources and Compensation Committee and the Public Policy Committee.

Ramos, 60, was appointed chief executive officer, president and a director of ITT Inc. (formerly ITT Corporation) in October 2011. She previously served as senior vice president and chief financial officer of ITT. Prior to joining ITT, Ms. Ramos served as chief financial officer for Furniture Brands International from 2005 to 2007. From 2000 to 2005, Ms. Ramos served as senior vice president and corporate treasurer at Yum! Brands, Inc. and chief financial officer for the U.S. division of KFC Corporation. Ms. Ramos began her career in 1979 at Atlantic Richfield Company (ARCO), where she spent more than 20 years serving in a number of finance positions including corporate general auditor and assistant treasurer. Ms. Ramos served on the board of Praxair, Inc. from April 2014 to September 2016. She serves on the board of trustees for the Manufacturers Alliance for Productivity and Innovation, and is also a member of the Business Roundtable and the Business Council.

Adams, 65, is currently the chief advisor of chemicals for IHS Inc. He started his chemical industry career with Union Carbide. After 15 years serving in a number of positions at Union Carbide, Mr. Adams joined Chemical Market Associates Inc. (CMAI). He served as president, CEO and chairman of the board of CMAI from 1997 until its acquisition by IHS in 2011. Mr. Adams is a director of Trecora Resources and previously served on the boards of Westlake Chemical Partners LP from July 2014 to October 2016, and Phillips 66 Partners LP from September 2013 to August 2016.

About Phillips 66

Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company's master limited partnership, is an integral asset in the portfolio. Headquartered in Houston, the company has 14,000 employees committed to safety and operating excellence. Phillips 66 had $50 billion of assets as of June 30, 2016. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.

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