marathon oil corp (USS) Snapshot

Clarence P. Cazalot, Jr, chairman, president and CEO of Marathon Oil Corporation has elected to retire on December 31, 2013, after almost 14 years leading Marathon Oil and 41 years in the oil and gas industry. Cazalot will continue as executive chairman through December 31, 2013. The Marathon Oil board of directors has elected Lee M. Tillman to the board of directors and to succeed Cazalot as president and CEO effective August 1, 2013. The board of directors intends to nominate Dennis H. Reilley, currently Marathon Oil lead director, as non-executive chairman upon Cazalot's retirement. Tillman, most recently served as vice president of Engineering for ExxonMobil Development Company where he was responsible for all global engineering staff engaged in major project concept selection, front end design and engineering.

Thomas K. Sneed, vice president and chief information officer (CIO) for Marathon Oil Corporation has elected to retire effective Sept. 1, 2013 following more than 32 years of service. Bruce A. McCullough will succeed Sneed as vice president and CIO effective June 17, 2013. McCullough joins Marathon Oil from Anadarko Petroleum Corp. where he most recently served as director, Global Business Systems. In his new position, McCullough will report to Janet F. Clark, Marathon Oil executive vice president and CFO. Sneed will serve as vice president of IT Services until Sept. 1 to facilitate an orderly transition to the department's new leadership.

on May 29, 2013, the board of directors of Marathon Oil Corporation, acting upon the recommendation of its corporate governance and nominating committee, amended the company's by-laws. the amendments were effective May 29, 2013. Article II, section 2.12 was added to address disqualification of directors and former section 2.12 addressing board committees was renumbered to be section 2.13. Article II, section 2.12 of the by-laws provides, in part, that no person shall qualify for service as a director of the company if he or she is a party to any compensatory, payment or other financial agreement, arrangement or understanding with any person or entity other than the company, or has received any such compensation or other payment from any person or entity other than the company, in each case in connection with candidacy or service as a director of the company. The foregoing is merely a summary of the amendments to the by-laws and is qualified in its entirety by reference to the complete amendments to sections 2.12 and 2.13 of the by-laws.