FINDLAY, Ohio, Jan. 27, 2017 - Marathon Petroleum Corporation (NYSE: MPC) today announced that J. Mike Stice has been elected to the company's board of directors, to be effective Feb. 22, 2017.
Stice joins the MPC board with a career that spans more than 35 years in the upstream and midstream gas businesses, including as chief executive officer of Access Midstream Partners L.P., where he led one of the largest publicly traded gathering and processing master limited partnerships (MLPs).
Stice began his career in 1981 with Conoco, working in a variety of positions of increasing responsibility. He was named president of ConocoPhillips Qatar in 2006. In 2008, he was named president and chief operating officer of Chesapeake Midstream Development, L.P., a wholly owned subsidiary of Chesapeake Energy Corporation (NYSE: CHK), and senior vice president of natural gas projects for Chesapeake. In 2009, he was named chief executive officer of Chesapeake Midstream Partners, L.P. Stice was designated a director of Chesapeake Midstream Partners, which changed its name to Access Midstream in 2012. Stice continued as chief executive officer until his retirement in 2014, and remained on the board of directors until 2015.
Currently, Stice serves as Dean of the Mewbourne College of Earth & Energy at the University of Oklahoma, a position he assumed in August 2015. He is a member of the board of directors at U.S. Silica Holdings, Inc. (NYSE: SLCA) and a former director on the MarkWest Energy Partners, L.P. board.
"Mike's extensive experience with MLPs and prior experience on the MarkWest Energy board make him uniquely qualified to serve on our board as MPLX, our own MLP, is poised for future growth," said Gary R. Heminger, chairman, president and chief executive officer of MPC. "MPC and its shareholders will be well-served by his broad experience in both the upstream and midstream gas businesses. On behalf of the board, it's a pleasure to welcome Mike to our ranks as we chart MPC's strategic path." The election of Stice increases the size of MPC's board to 12 directors.
Stice holds a bachelor's degree in chemical engineering from the University of Oklahoma, a master's degree in business from Stanford University, and a doctorate in education from The George Washington University.
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About Marathon Petroleum Corporation
MPC is the nation's third-largest refiner, with a crude oil refining capacity of approximately 1.8 million barrels per calendar day in its seven-refinery system. Marathon brand gasoline is sold through approximately 5,500 independently owned retail outlets across 19 states. In addition, Speedway LLC, an MPC subsidiary, owns and operates the nation's second-largest convenience store chain, with approximately 2,730 convenience stores in 21 states. MPC owns, leases or has ownership interests in approximately 8,400 miles of crude and light product pipelines and more than 5,600 miles of gas gathering and natural gas liquids (NGL) pipelines. MPC also has ownership interests in 54 gas processing plants, 13 NGL fractionation facilities and two condensate stabilization facilities. Through subsidiaries, MPC owns the general partner of MPLX LP, a midstream master limited partnership. MPC's fully integrated system provides operational flexibility to move crude oil, NGLs, feedstocks and petroleum-related products efficiently through the company's distribution network and midstream service businesses in the Midwest, Northeast, East Coast, Southeast and Gulf Coast regions.
Investor Relations Contacts:
Lisa D. Wilson (419) 421-2071
Doug Wendt (419) 421-2423
Denice Myers (419) 421-2965
Media Contacts:
Chuck Rice (419) 421-2521
Jamal Kheiry (419) 421-3312
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Source: Marathon Petroleum Corporation via Globenewswire
Source: Thomson Reuters ONE
(January 27, 2017 - 4:35 PM EST)
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