We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Marathon (MPC) Appoints Mannen as President, Quaid as CFO
Read MoreHide Full Article
Marathon Petroleum Corporation’s (MPC - Free Report) president and CEO Michael J. Hennigan announced significant changes to the company’s executive management team, effective Jan 1, 2024.
According to Marathon, Maryann T. Mannen, who currently serves as MPC’s executive vice president and chief financial officer (CFO), has been appointed as its new president. Simultaneously, John Quaid has been named as the new CFO, succeeding Mannen in the role. Quaid currently serves as the executive vice president and CFO of the general partner of MPLX LP (MPLX - Free Report) , a subsidiary of Marathon.
In her new role as MPC’s president, Mannen will assume oversight responsibility for the nation's largest refining business, commercial performance, and the health, environment, safety, and security function. Additionally, she will continue to serve on the board of directorsof the general partner of MPLX.
Per the company, Michael Hennigan will maintain his role as CEO of MPC and concurrently serve as the chairman, president and CEO of the general partner of MPLX.
Hennigan conveyed his optimism regarding the appointments, expressing that Maryann's promotion recognizes her leadership skills and contributions to Marathon over the past few years. Additionally, he highlighted that John's financial expertise and adept communication with the investment community will benefit MPC in the ongoing pursuit of shareholders’ value.
Both Mannen and Quaid will report directly to Hennigan in their respective roles, ensuring a seamless transition and continuity in the leadership of MPC.
The Williams Companies is well-positioned to capitalize on the anticipated substantial long-term growth in U.S. natural gas demand, thanks to its impressive portfolio of large-scale projects that create significant value. The company’s debt maturity profile is in good shape with its $4.5-billion revolver maturing in fiscal 2023.
WMB’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 13.68%.
Sunoco is among the biggest motor fuel distributors in the U.S. wholesale market in terms of volumes. By distributing more than 10 fuel brands via 10,000 convenience stores under long-term distribution contracts, the partnership will continue to generate stable cash flow.
SUN’s earnings beat estimates in two of the trailing four quarters and missed twice, delivering an average surprise of 28.33%.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Marathon (MPC) Appoints Mannen as President, Quaid as CFO
Marathon Petroleum Corporation’s (MPC - Free Report) president and CEO Michael J. Hennigan announced significant changes to the company’s executive management team, effective Jan 1, 2024.
According to Marathon, Maryann T. Mannen, who currently serves as MPC’s executive vice president and chief financial officer (CFO), has been appointed as its new president. Simultaneously, John Quaid has been named as the new CFO, succeeding Mannen in the role. Quaid currently serves as the executive vice president and CFO of the general partner of MPLX LP (MPLX - Free Report) , a subsidiary of Marathon.
In her new role as MPC’s president, Mannen will assume oversight responsibility for the nation's largest refining business, commercial performance, and the health, environment, safety, and security function. Additionally, she will continue to serve on the board of directorsof the general partner of MPLX.
Per the company, Michael Hennigan will maintain his role as CEO of MPC and concurrently serve as the chairman, president and CEO of the general partner of MPLX.
Hennigan conveyed his optimism regarding the appointments, expressing that Maryann's promotion recognizes her leadership skills and contributions to Marathon over the past few years. Additionally, he highlighted that John's financial expertise and adept communication with the investment community will benefit MPC in the ongoing pursuit of shareholders’ value.
Both Mannen and Quaid will report directly to Hennigan in their respective roles, ensuring a seamless transition and continuity in the leadership of MPC.
Zacks Rank & Key Picks
Marathon currently carries a Zack Rank #3 (Hold).
Some better-ranked stocks in the energy sector are The Williams Companies, Inc. (WMB - Free Report) and Sunoco LP (SUN - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Williams Companies is well-positioned to capitalize on the anticipated substantial long-term growth in U.S. natural gas demand, thanks to its impressive portfolio of large-scale projects that create significant value. The company’s debt maturity profile is in good shape with its $4.5-billion revolver maturing in fiscal 2023.
WMB’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 13.68%.
Sunoco is among the biggest motor fuel distributors in the U.S. wholesale market in terms of volumes. By distributing more than 10 fuel brands via 10,000 convenience stores under long-term distribution contracts, the partnership will continue to generate stable cash flow.
SUN’s earnings beat estimates in two of the trailing four quarters and missed twice, delivering an average surprise of 28.33%.