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Phillips 66 announced the transition of Chief Executive Officer Greg C. Garland to Executive Chairman of the board, effective July 1, 2022. Mr. Garland has been CEO of Phillips 66 since April 30, 2012. From 2012 to 2021, Mr. Garland realized $201,157,065 in total compensation.
On July 1, 2022, Mark E. Lashier will assume the role of Chief Executive Officer. Mr. Lashier currently serves as the President and Chief Operating Officer of the Company. Upon his appointment, his annual target compensation will be as follows:
| Base Salary | Target Bonus | Target Performance Shares | Target RSUs | Target Options | Total Annual Compensation |
|---|---|---|---|---|---|
| $1,500,000 | $2,250,000 | $3,251,875 | $1,625,938 | $1,625,938 | $10,253,750 |
Additionally, Mr. Lashier will receive a supplemental long-term incentive grant worth $925,000, composed of $462,500 in RSUs and $462,500 in stock options.
To view the details of this transition, please click here.
Mr. Garland is the 17th CEO from the Equilar 500 to announce their resignation in 2022.
Research Analyst
Evin Peterson, Research Analyst at Equilar, authored this post. Please contact Amit Batish, Director, Content & Communications, at abatish@equilar.com for more information on Equilar research and data analysis.
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