UPDATE 1-Marathon to sell Speedway, see CEO leave next year

Marathon Petroleum Corp chief Gary Heminger will retire next year after almost a decade in charge, the U.S. refiner said on Thursday, as it announced plans to spin off its gas station business Speedway and review its midstream assets. The moves, which follow media reports earlier this week that the company was preparing to shake up management, respond in part to pressure from activist investors Elliott Management Corp and DE Shaw & Co for changes at the company. Chief Executive Officer Heminger will retire next year when his current term ends. …read more

Source:: Yahoo Finance


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