By excelling in these areas and sharpening the company's focus on execution across its refining, marketing and midstream platforms, MPC will deliver better results, create a higher level of through-cycle earnings, and provide a compelling value proposition to shareholders, according to the CEO.
"It's an appropriate time for change. I am excited about the opportunities ahead of us," he said.
Findlay-based MPC is an integrated downstream energy company. It operates the nation's largest refining system with more than 3 million barrels per day of crude oil capacity across 16 refineries. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. Its subsidiary, Enon, Ohio-based Speedway LLC, owns and operates retail convenience stores across the U.S.
MPC also owns the general partner and majority limited partner interests in MPLX LP, a midstream company that owns and operates gathering, processing and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure.