Marathon Petroleum names Mannen president, Quaid finance chief
Reuters
Published Dec 21, 2023 04:47PM ET
Updated Dec 21, 2023 05:40PM ET
By Laura Sanicola
(Reuters) -Refiner Marathon Petroleum (NYSE:MPC) on Thursday named Maryann Mannen as its new president and John Quaid as its new chief financial officer, effective Jan. 1.
Michael Hennigan will remain the company's chief executive officer. He will also continue as president and chief executive of the general partner of MPLX (NYSE:MPLX), a company formed by Marathon which owns and operates midstream energy infrastructure and logistics assets as well as fuel distribution services.
Mannen, Marathon's first woman president, joined the company in 2021 as chief financial officer. She previously worked at TechnipFMC (NYSE:FTI), a technology provider for the energy industry.
Quaid was previously the CFO of MPLX. He joined Marathon in 2014 from U.S. Steel.
Hennigan has been at the helm of Findlay, Ohio-based Marathon for more than three years, taking over from former Chief Executive Gary Hemminger, who spun off the independent refiner from Marathon Oil (NYSE:MRO) and built it into the nation's largest refiner through a series of acquisitions.
In the third quarter Marathon reported an adjusted net income of $8.14 per share, cruising past analysts' average estimate of $7.75 per share, according to LSEG data.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.