Former 7-Eleven CEO Keyes Named to Murphy USA Board

6/24/2013

EL DORADO, Ark. -- Murphy Oil Corp. named 10 directors to serve on the board of directors for Murphy USA Inc. once the retail spinoff is completed later this year. Murphy USA, currently a subsidiary of Murphy Oil, will become a standalone company focused primarily on the marketing of retail fuel and convenience merchandise.

The board of the new spinoff will consist of its previously announced CEO, a chairman and eight other directors, including James Keyes, former CEO of 7-Eleven Inc. from 2000 to 2005.

R. Madison Murphy will serve as chairman of the board of Murphy USA. He has been a director of Murphy Oil since 1993 and serves on its executive committee and as chair of the Audit Committee. He was chairman of the board of directors of Murphy Oil from 1994 to 2004 and chief financial officer of Murphy Oil from 1992 to 1994.

As previously announced, R. Andrew Clyde will serve as president and CEO of the new retail fuel and convenience store company. Clyde served Booz & Co. (and prior to August 2008, Booz Allen Hamilton) in its global energy practice. He joined the firm in 1993, was elected partner in 2000 and held leadership roles as North American energy practice leader and Dallas office managing partner, serving on the firm’s board nominating committee. He worked with downstream petroleum and retail clients on engagements focused on corporate and business unit strategy, organization design and effectiveness, and performance improvement.

The eight directors appointed are:

Claiborne P. Deming has served as chairman of the board of Murphy Oil since March 2012, and is also chairman of its executive committee. He served as president and CEO of Murphy Oil from Oct. 1, 1994 to Dec. 31, 2008. Prior to assuming that position, he served as executive vice president and chief operating officer and had served previously as president of Murphy Oil USA Inc.
Thomas M. Gattle Jr. served as chairman of the board, president and CEO of Terral RiverService Inc. since 1992. Terral RiverService is a private company that employs 225 people and operates fertilizer product terminals, boats and barges on the lower Mississippi River and its connected inland waterways.
Robert A. Hermes has been a director of Murphy Oil since 1999 and serves as a member of the executive committee, nominating and governance committee, and environmental, health and safety committee. He was chairman of the board of Purvin & Gertz Inc., an international energy consulting firm before his retirement in 2005.
Fred Holliger was chairman and CEO of Giant Industries, a petroleum refining and retail convenience store company from 2005 until 2007 when it merged with Western Refining Co. Holliger was president and chief operating officer of Giant Industries for the previous 16 years. He is a former director of the National Petroleum Refinery Association and the New Mexico Oil and Gas Association.
The Reverend Dr. Christoph Keller III has been a director of Deltic Timber Corp. since Dec. 17, 1996, and is a member of the executive compensation committee and chair of the nominating and corporate governance committee of Deltic Timber.
Keyes is currently chairman and CEO of Wild Oats LLC. He was CEO of 7-Eleven and held a variety of other positions prior to that in his 21-year career, including chief financial officer and chief operating officer. After leaving 7-Eleven, Keyes was chairman and CEO of Blockbuster from 2007 to 2011. Keyes recently has been linked to billionaire Ron Burkle’s rumored attempt to purchase 199 Fresh & Easy stores in the western United States from Tesco plc and use these stores to relaunch the Wild Oats health food store chain.
Diane N. Landen is owner and president of Vantage Communications Inc., where she has more than 20 years of experience in investment management, communications and broadcast property ownership. She also serves as vice chairman and executive vice president of Noalmark Broadcasting Corp., a radio and media company that owns and operates radio stations in multiple markets in Arkansas and New Mexico.
Jack T. Taylor has been a director of Sempra Energy since this February and serves as a member of the audit; environmental, health, safety and technology; and LNG joint venture and financing committees. He was the COO-Americas and executive vice chair of U.S. operations for KPMG LLP from 2005 to 2010. From 2001 to 2005, he served as the vice chairman of U.S. audit and risk advisory services for KPMG LLP. Taylor is a director of Christus Schumpert Health System Foundation.

"I am pleased with the strength and composition of our board, which will carry continuity, new expertise, and deep and relevant knowledge of our business,” chairman Murphy said. “I look forward to working with this board to drive long-term success for Murphy USA Inc. and its shareholders."

The final effective date and terms of the spinoff of Murphy USA Inc. are subject to the approval by the Murphy Oil Corp. board of directors and the satisfaction or waiver of other conditions and regulatory requirements.