Marathon Oil has confirmed chairman, president and CEO Clarence Cazalot Jr is to retire at the end of this year.
Lee Tillman has been elected by the oil giant’s board of directors to take over as President and CEO from August 1, with Cazalot remaining as executive chairman until December 31.
Dennis Reilley, currently lead director of Marathon Oil, is set to take over as non-executive chairman on Cazalot’s retirement.
New Orleans-born Cazalot, 62, will bring the curtain down on a 41-year career in the energy industry, including 14 years as head of Marathon Oil. He joined the company from Texaco in 1999, where he finished as president of international production operations after 27 years with the company before joining Marathon.
Tillman, 51, was previously vice president of engineering at ExxonMobil. He joined Exxon in 1989 as a research engineer, and has worked extensively around the world – including a spell with the company’s operations in Aberdeen.
“His strong leadership skills and extensive experience in global operations, project execution and leading edge technology will be invaluable in confronting the challenges facing our Company and industry,” said Cazalot of his successor.
“I look forward to working with Lee, the rest of our executive leadership team, and all our dedicated employees over the next six months as we transition to his leadership and continue to execute on our well defined strategy.”
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