(Reuters) – Marathon Petroleum Corp (MPC.N) chief Gary Heminger will leave next year, the largest U.S. independent refiner said on Thursday, adding it would launch a sweeping restructuring demanded by activist investors, including the spinoff of retail operations.
The changes were a victory for Elliott Management, DE Shaw and other investors that had sought a shakeup to boost the company’s lagging share price following its troubled 2018 acquisition of rival Andeavor.
Marathon Petroleum to change CEO, split company after hedge fund campaign
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