Marathon Petroleum to split from Speedway
Monday, November 18, 2019
Despite recent statements to the contrary, Marathon Petroleum Corp. has announced plans to “spin off its Speedway gas-station business,” according to The Columbus Dispatch. It will also be replacing CEO Gary Heminger, who will retire next year.
Buckling under pressure from investors, Findlay-based Marathon confirmed its new direction at the end of October, along with the formation of a special board committee to review the company’s pipeline business.
As for replacing Heminger, who is a 45-year company veteran, Executive Vice Chairman Gregory Goff has been discussed as a possible next CEO, but he also said he’s retiring.
Learn more: Columbus Dispatch > Marathon Petroleum to spin off Speedway stations and find a new CEO
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