Marathon Oil Corp. (MRO) announced that its chairman, president and CEO Clarence Cazalot, Jr, will retire on Dec. 31, 2013. Cazalot will continue as executive chairman through Dec. 31, 2013. The company's board has elected Lee Tillman to the board and to succeed Cazalot as president and CEO effective Aug. 1, 2013. Tillman most recently served as vice president of Engineering for ExxonMobil Development Company.
The board intends to nominate Dennis Reilley, currently Marathon Oil lead director, as non-executive chairman upon Cazalot's retirement.
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