Marathon Petroleum Elects New Directors

TL;DR

MPC added two new board members, Hennigan and Koch, effective immediately.

AI Summary

Marathon Petroleum Corporation (MPC) announced on May 11, 2024, the election of two new directors, Michael J. Hennigan and Donald C. Koch, to its Board of Directors, effective immediately. Hennigan, currently the CEO of Sunoco LP, and Koch, a former executive at LyondellBasell Industries, will serve until the company's 2025 annual meeting of stockholders. This move is part of the company's ongoing governance and strategic planning.

Why It Matters

The addition of new directors can signal shifts in strategic direction or governance, potentially impacting the company's future performance and shareholder value.

Risk Assessment

Risk Level: low — The filing concerns routine board appointments and does not involve significant financial transactions or operational changes.

Key Players & Entities

• Marathon Petroleum Corporation (company) — Registrant
• Michael J. Hennigan (person) — Newly elected director
• Donald C. Koch (person) — Newly elected director
• Sunoco LP (company) — Employer of Michael J. Hennigan
• LyondellBasell Industries (company) — Former employer of Donald C. Koch
• May 11, 2024 (date) — Effective date of director election

FAQ

From the Filing

0001510295-24-000052.txt : 20240513 0001510295-24-000052.hdr.sgml : 20240513 20240513164844 ACCESSION NUMBER: 0001510295-24-000052 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240511 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240513 DATE AS OF CHANGE: 20240513 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Marathon Petroleum Corp CENTRAL INDEX KEY: 0001510295 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 271284632 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35054 FILM NUMBER: 24939878 BUSINESS ADDRESS: STREET 1: 539 SOUTH MAIN STREET CITY: FINDLAY STATE: OH ZIP: 45840-3229 BUSINESS PHONE: 419-422-2121 MAIL ADDRESS: STREET 1: 539 SOUTH MAIN STREET CITY: FINDLAY STATE: OH ZIP: 45840-3229 8-K 1 mpc-20240511.htm 8-K mpc-20240511 0001510295 false 0001510295 2024-05-11 2024-05-11 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________ FORM 8-K _____________________________________________ CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) May 11, 2024 _____________________________________________ Marathon Petroleum Corporation (Exact name of registrant as specified in its charter) _____________________________________________ Delaware   001-35054   27-1284632 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.) 539 South Main Street , Findlay , Ohio 45840 (Address of principal executive offices) (Zip code) Registrant’s telephone number, including area code: ( 419 )  422-2121 _____________________________________________ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:  ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading symbol(s) Name of each exchange on which registered Common Stock, par value $.01 MPC New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Appointment of Principal Executive Officer On May 11, 2024, the board of directors (the “Board”) of Marathon Petroleum Corporation (the “Company”) appointed Maryann T. Mannen as Chief Executive Officer of the Company, effective August 1, 2024. In this capacity, she will be the Company’s principal executive officer. Ms. Mannen will succeed Michael J. Hennigan, who will cease to serve as the