Marathon Oil completes spin-off

Marathon Oil Corporation has completed the spin-off of Marathon Petroleum Corporation, making Marathon Oil an independent upstream company. As an independent upstream company, Marathon Oil will have the opportunity to focus on strategic priorities, allowing them to perform at a higher level while providing more effective transparency for investors. By exhibiting the speed, agility and flexibility that comes with being independent, while maintaining their proven ability to accomplish large and technologically challenging projects, the company intends to capitalize on a vast range of opportunities. With this change, Clarence P. Cazalot Jr. becomes chairman of the board of Marathon Oil Corporation, in addition to his responsibilities as president and CEO. David E. Roberts Jr. will take on the newly created role of executive vice president and chief operating officer. Janet F. Clark will maintain her position as executive vice president and chief financial officer.

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