Summary
Marathon Petroleum Corporation (MPC) announced significant executive leadership changes on June 20, 2019, effective July 1, 2019. The most notable change is the appointment of Timothy T. Griffith, previously Senior Vice President and Chief Financial Officer, to President of its Speedway LLC subsidiary. He succeeds Anthony R. Kenney, who will retire later this year after a transition period supporting Speedway and other strategic projects. This move will see Mr. Griffith step down as MPC's principal financial officer.
Key Highlights
- 1Timothy T. Griffith appointed President of Speedway LLC, succeeding Anthony R. Kenney.
- 2Anthony R. Kenney to retire later in 2019 after supporting the Speedway transition and strategic projects.
- 3Donald C. Templin appointed Executive Vice President and Chief Financial Officer of MPC.
- 4Mr. Templin will also serve as the principal financial officer of MPC, effective July 1, 2019.
- 5Griffith and Templin will receive compensation and benefits materially similar to those previously disclosed.
- 6Biographical information for both executives is incorporated by reference from prior SEC filings (2018 10-K and 2019 Proxy Statement).
Frequently Asked Questions
The primary executive changes involve Timothy T. Griffith moving from SVP and CFO to President of Speedway LLC, and Donald C. Templin stepping into the role of Executive Vice President and CFO.
Donald C. Templin, formerly President of Refining, Marketing and Supply, has been appointed as the new Executive Vice President and Chief Financial Officer of MPC, effective July 1, 2019.
Anthony R. Kenney, the current President of Speedway LLC, is retiring later in 2019. He will serve in an Executive Vice President role to support the Speedway transition and other strategic projects until his retirement.
According to the filing, both Mr. Griffith and Mr. Templin will continue to receive compensation and benefits that are materially similar to what was previously disclosed in MPC's 2019 Proxy Statement.