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The Wall Street Journal: Marathon Petroleum set to spin off its gas-station chain, may shake up leadership


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The Wall Street Journal: Marathon Petroleum set to spin off its gas-station chain, may shake up leadership

Oil refiner Marathon Petroleum Corp. is preparing to spin off its gas-station chain and considering shaking up its executive leadership to appease activist shareholders, including Elliott Management Corp., according to people familiar with the matter. As part of a truce with Elliott, Marathon’s board is discussing changes, including a spinoff of its sprawling gas-station operation…

The Wall Street Journal: Marathon Petroleum set to spin off its gas-station chain, may shake up leadership

Oil refiner Marathon Petroleum Corp. is preparing to spin off its gas-station chain and considering shaking up its executive leadership to appease activist shareholders, including Elliott Management Corp., according to people familiar with the matter.

As part of a truce with Elliott, Marathon’s board is discussing changes, including a spinoff of its sprawling gas-station operation and potentially replacing Chairman and CEO Gary Heminger and other executives, the people said. The situation is fluid, and the company, which is…

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