Hennigan Succeeds Heminger at Marathon Petroleum | Rigzone
Marathon Petroleum Corp. (MPC) reported Wednesday that it has named Michael J. Hennigan the integrated downstream company’s new president and CEO, effective immediately.
Hennigan succeeds Chairman and CEO Gary R. Heminger, who will retire from Findlay, Ohio-based MPC next month after 45 years of service.
“The Board’s unanimous decision to appoint Mike as our new CEO marks the conclusion of a broad and rigorous search that considered many external and several internal candidates, all seasoned executives from the petroleum refining and adjacent sectors,” Edward G. Galante, chair of the board’s special committee that led the CEO search process, commented in a written statement from the company.
MPC noted that Hennigan, 60, brings 38 years of energy industry experience in refining and midstream, most recently serving since 2017 as president of the MPLX LP midstream firm that MPC owns. In his new role, Hennigan will remain president and CEO of MPLX’s general partner MPLX GP LLC, the company stated. Also, MPC noted that Hennigan holds a bachelor’s degree in chemical engineering from Drexel University and has held various roles at Energy Transfer Partners L.P., Sunoco Logistics Partners L.P. and Sunoco, Inc.
“Mike is a well-respected industry veteran with 28 years of refining experience and ten years of midstream experience, including several at the chief executive level,” remarked James E. Rohr, MPC lead independent director. “Since joining us in 2017, Mike has demonstrated a keen understanding of our business and the value of our platform … Mike has a clear vision for the company’s future and is the right leader with the necessary experience and skills to guide us through a period of change.”
Hennigan will join MPC’s board after the company’s 2020 annual meeting of shareholders on April 29, 2020, MPC added.
“I am honored by the confidence placed in me to lead this great company,” said Hennigan. “Despite the current turbulence in the energy and broader markets, we have a lot of opportunity ahead of us. With the Board having completed its retail and midstream reviews, my relentless focus will be on capturing commercial opportunities across the value chain and leading and empowering my executive team as we maintain our commitment to operational excellence and shareholder return.”
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