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  "documentTitle": "Phillips 66 (PSX)",
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      "text": "Board and management is overtly satisfied with current performance and sees no need for change; Poor capital-allocation execution; Worst-in-class quarterly earnings; Misleading investor communications; Lack of credible oversight.",
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      "text": "A mandate to improve; A slate of directors who see significant upside; No more value-destructive midstream M&A; Credible and independent directors; Renewed management accountability; A stronger Phillips 66.",
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      "text": "STATUS QUO",
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