Marathon Oil Corporation, a Houston-based exploration and production (E&P) company, has announced several changes in its leadership. Two senior executives are departing the company – J. R. Sult, executive vice president and chief financial officer (CFO), is leaving the company for personal reasons while Lance Robertson, vice president, resource plays, is leaving the company to pursue other opportunities.
Pat Wagner, vice president of corporate development and strategy, will take over as CFO in the interim while the company searches for a new CFO.
T. Mitch Little, Marathon’s vice president, conventional, is being promoted to executive vice president, operations, and will oversee the resource play and conventional businesses within the company. Little joined the company in 1986 and previously served as managing director of Marathon Oil Norge AS and general manager of worldwide drilling and completions. He has extensive E&P experience in his various management positions across the company’s U.S. operations as well as internationally.
Little “brings proven leadership skills and significant technical experience to the new role of EVP of operations … and has been integral to our ongoing transformation into a resource play focused E&P,” Lee Tillman, Marathon’s president and CEO, stated in a release.
Additionally, Cathy Krajicek, vice president of technology and innovation, will assume the role of vice president, conventional. Bruce McCullough, vice president and chief information officer, will assume the role of vice president, technology and innovation and keep his role as chief information officer.
All changes are effective immediately.
Shakeups in executive leadership, specifically CFOs, is not uncommon during the industry’s downturn. Earlier this month, Swift Energy Company’s CEO and CFO announced their retirements.
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