Yahoo Finance Marathon Petroleum Corporation Announces Key Executive Changes
FINDLAY, Ohio, March 3, 2015 - Marathon Petroleum Corporation (MPC) President and Chief Executive Officer Gary R. Heminger today announced a series of key management changes at MPC headquarters, including the appointments of Donald C. Templin as executive vice president, Supply, Transportation and Marketing, and Timothy T. Griffith as senior vice president and chief financial officer. Both will report to Heminger.
Templin, who has served as senior vice president and chief financial officer since June 2011, will provide executive oversight for Supply, Distribution and Planning, Marketing, Transportation and Logistics, and Business Development.
"Don has provided outstanding stewardship of our financial affairs and demonstrated valuable leadership in our first years as a standalone public company, which has been enormously beneficial to our stakeholders," said Heminger. "He has also been instrumental in our strategic growth activities, including the acquisition of the Galveston Bay Refinery, the creation of MPLX LP and our recent purchase of Hess` retail assets. I am confident that he will continue to strengthen our company`s future as he applies his commercial skills on the operating side of our business."
Griffith joined MPC in August 2011 as vice president of finance and treasurer, and assumed responsibility for investor relations in early 2014. In his new role, he will oversee the Accounting and Controller`s group, Information Technology, Tax, Finance and Investor Relations, and will continue to serve as treasurer.
"Tim`s leadership, financial acumen and proven ability to effectively communicate with investors have helped us build on the strong relationships we already have while forging new ones within the global investment community," Heminger said. "In his new role, Tim will remain an instrumental part of that ongoing focus."
In addition to the changes outlined above, Heminger announced that George P. Shaffner has been appointed senior vice president, Health, Environment, Safety and Security, and John S. Swearingen has been appointed senior vice president, Transportation and Logistics.
"We are very fortunate to have the deep bench strength needed to enable the members of our executive leadership team to seamlessly change responsibilities in order to maintain a strong succession model," Heminger said. "George`s extensive operating experience and strong commitment to our environmental and safety values will greatly benefit our Health, Environment, Safety and Security function, while John`s breadth of refining experience and previous role as president of Marathon Pipe Line LLC will serve the Transportation and Logistics organization well." Shaffner will report to Heminger and Swearingen will report to Templin.
Also reporting to Templin will be James P. Heintschel in the newly created role of vice president, Business Development. Heintschel served as Business Development director prior to this appointment. A native of Toledo, Ohio, Heintschel began his MPC career in 1978 in the Treasury organization in Findlay. He has since held various positions of increased responsibility in the Treasury, Supply and Transportation, Auditing, Accounting and Purchasing organizations. He transferred to Springfield, Ohio, in 1988, where he served as manager, Commercial Services, for Emro Marketing Company, the predecessor to Speedway LLC. In 1995, Heintschel returned to Findlay as manager, Pricing and Allocation in the Marketing organization. In 2002, he was named manager, Special Products Marketing. He assumed the role of director, Business Development, in January 2010.
Heintschel earned a bachelor`s degree in finance from The Ohio State University in 1978 and an MBA from Bowling Green State University in 1980.
"I am delighted to welcome Jay to our executive leadership team," said Heminger. "His strong strategic expertise, astute commercial skills and track record as a leader will ensure that our company is well-positioned for business growth across all of our focus areas."
All executives involved in the moves will remain at MPC`s headquarters in Findlay. These appointments are effective immediately.
For more information about MPC, including executive biographies, please visit http://www.marathonpetroleum.com.
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About Marathon Petroleum Corporation
MPC is the nation`s fourth-largest refiner, with a crude oil refining capacity of approximately 1.7 million barrels per calendar day in its seven-refinery system. Marathon brand gasoline is sold through approximately 5,460 independently owned retail outlets across 19 states. In addition, Speedway LLC, an MPC subsidiary, owns and operates the nation`s second-largest convenience store chain, with approximately 2,750 convenience stores in 22 states. MPC also owns, leases or has ownership interests in approximately 8,300 miles of pipeline. Through subsidiaries, MPC owns the general partner of MPLX LP, a midstream master limited partnership. MPC`s fully integrated system provides operational flexibility to move crude oil, feedstocks and petroleum-related products efficiently through the company`s distribution network in the Midwest, Southeast and Gulf Coast regions. For additional information about the company, please visit our website at http://www.marathonpetroleum.com.
Investor Relations Contacts:
Geri Ewing (419) 421-2071
Teresa Homan (419) 421-2965
Media Contact:
Chuck Rice (419) 421-2521
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Marathon Petroleum Corporation via GlobeNewswire
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