HOUSTON, Aug. 27, 2013 (GLOBE NEWSWIRE) -- Marathon Oil Corporation (NYSE: MRO) announced today that JanetF. Clark, executive vice president and chief financial officer(CFO), has elected to retire on Oct. 1, 2013, after serving almost10 years as the Company's CFO. The Marathon Oil board of directorshas elected John R. ("J.R.") Sult to succeed Clark as executivevice president and CFO effective Sept. 3, 2013. Clark will serve asexecutive vice president, assisting in transition related mattersduring the month of September. Sult, 54, was a member of El Paso Corporation's executivemanagement team from 2005 until the company was acquired by KinderMorgan Inc. in 2012. While with El Paso, he served as executivevice president and CFO from 2010 to 2012 and senior vice presidentand CFO from 2009 until 2010. Prior to that, he served as seniorvice president and controller from 2005 until 2009. Sult currentlyserves on the board of directors of Dynegy Inc. and as chairman ofthe board of Boys and Girls Country of Houston Inc. "We are very pleased to welcome J.R. to the Marathon Oilleadership team and look forward to leveraging his deep experienceand knowledge to guide the financial strategy of our Company," saidLee M. Tillman, Marathon Oil president and CEO. "Our commitment tofinancial discipline and profitable growth is essential to ourcontinued success and J.R.'s leadership will play a key role increating long-term shareholder value." "We want to recognize and thank Janet for the substantialcontributions she has made to Marathon Oil over the past decade,"said Clarence P. Cazalot Jr., Marathon Oil executive chairman."Maintaining strong financial discipline has been a hallmark ofMarathon Oil's commitment to its shareholders and Janet's knowledgeand leadership has been critical in guiding the Company throughperiods of extraordinary change. Beyond the many contributions shehas made to Marathon Oil's business, she continues to be a stalwartin her community involvement and willingness to share her personaltime and financial resources in support of numerous non-profitorganizations, particularly in the areas of education and causesbenefitting underserved segments of our community. On behalf of allMarathon Oil employees, we wish Janet good health and muchhappiness in the years ahead."
Marathon Oil Corporation is an international exploration andproduction company. Based in Houston, Texas, the Company had netproved reserves at the end of 2012 of 2 billion barrels of oilequivalent in North America, Europe and Africa. For moreinformation, please visit the Company's website at http://www.marathonoil.com.Note to Editors: John R. ("J.R.") Sult's bio is includedbelow. Janet Clark's bio is available online at http://www.marathonoil.com/About_Us/Management/ Photos are available upon request. John R. ("J.R.") Sult John R. ("J.R.") Sult was a member of El Paso Corporation'sexecutive management team from 2005 until the company was acquiredby Kinder Morgan Inc. in 2012. While with El Paso, he servedas executive vice president and CFO from 2010 to 2012 and seniorvice president and CFO from 2009 until 2010. Prior to that, heserved as senior vice president, chief accounting officer andcontroller from 2005 until 2009. Sult also served as senior vice president, CFO and controller ofEl Paso's Pipeline Group from 2005 to 2009 and as CFO of thegeneral partner of El Paso Pipeline Partners L.P. from 2007 to2012. Prior to joining El Paso, he served as vice president andcontroller of Halliburton Energy Services from 2004 until 2005,where he was responsible for all aspects of finance and accountingfor the company's energy services business unit. Before joining Halliburton, Sult was an audit and businessadvisory partner with Arthur Andersen LLP where he gained more than20 years of experience working with public and private companies inthe energy industry. Sult earned a Bachelor of Science degree with specialattainments in commerce from Washington & Lee University, andhe is a CPA in the State of Texas. He currently serves on the boardof directors of Dynegy Inc. He is a member of Financial ExecutivesInternational (FEI) and previously served on FEI's committee oncorporate reporting. He also serves as chairman of the board ofBoys and Girls Country of Houston Inc.
CONTACT: Media Relations Contacts: Lee Warren -- 713-296-4103 John Porretto -- 713-296-4102 Investor Relations Contacts: Howard Thill -- 713-296-4140 Chris Phillips -- 713-296-3213