07:57 AM EDT, 04/09/2025 (MT Newswires) -- Phillips 66's (PSX) challenge from activist investor Elliott Investment Management has won the backing of investor Gregory Goff, Bloomberg reported Wednesday, citing a letter it reviewed.

Goff, who served as an executive at Phillips 66's predecessor, ConocoPhillips, said in the letter that he holds a $10 million stake in the oil and gas company, Bloomberg reported.

Goff said he was dismayed by the corporate governance at Phillips 66 and backed Elliott's push to overhaul the company's board and sell off non-refinery assets, Bloomberg added.

Phillips 66 did not immediately reply to MT Newswires' request for comment.

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