11:58 AM EDT, 05/21/2025 (MT Newswires) -- Phillips 66 (PSX) shareholders voted for two Elliott Investment Management nominees to the oil refiner's board based on preliminary results, the companies said separately on Wednesday.

Sigmund Cornelius and Michael Heim were elected to the Phillips 66 board at the company's 2025 annual shareholders meeting, the companies added.

Meanwhile, shareholders rejected the management's proposal to declassify the board, Phillips 66 said.

Shares of Phillips 66 were down 6.2% in recent trading.

Price: 113.42, Change: -7.49, Percent Change: -6.19