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      "text": "Enhancing governance with the addition of a new director; Transitioning to a new CEO; Improving refining operations under new leadership which, within two years, closed a $2 per barrel EBITDA gap; Selling the company's Speedway retail operation, which generated $17 billion in after-tax cash proceeds.",
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      "text": "We are hopeful the current management team, supported by an enhanced Board, can deliver on its performance targets... should Phillips 66 fail to show material progress... we believe that the Company should at that point pursue its best available option by making a strategic pivot and following a path that mirrors Marathon's recent transformation.",
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