Marathon Petroleum Names New Board Director

Marathon Petroleum Names New Board Director
U.S. oil refiner Marathon Petroleum Corporation has appointed Jonathan Cohen to its head of directors.

U.S. oil refiner Marathon Petroleum Corporation has appointed Jonathan Cohen to its head of directors, the company announced Monday.

Cohen’s appointment comes as Marathon Petroleum entered into an agreement with activist investor Elliott Management Corporation. He will replace retiring executive board member Greg Goff.

Cohen has served as founder and executive of multiple energy-related businesses in the E&P and midstream sectors.

“We are pleased to welcome Jonathan to the MPC board,” Marathon Petroleum CEO Gary Heminger said in a company statement. “Cohen joins the board with valuable executive leadership experience in the energy and natural resources industry. We look forward to his contributions as we continue executing on our strategic initiatives.”

In recent months, Marathon Petroleum has been under pressure from stakeholder Elliott Management Corporation to divide its company into three separate companies: retail, midstream and refining.

In late October, the company announced the spinoff of its retail fuel-station business and the departure of its CEO Heminger.

The company is still on the hunt for its next CEO.

To contact the author, email Valerie.Jones@Rigzone.com



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