Marathon Petroleum Corporation announces election of new director

Rhea-AI Summary

Marathon Petroleum Corp. (NYSE: MPC) has appointed Toni Townes-Whitley to its board of directors, effective March 1, 2023. Townes-Whitley brings over 35 years of experience, most notably as president of U.S. Regulated Industries at Microsoft Corporation, where she managed a $16 billion portfolio. Her expertise includes driving digital transformation and building high-performance teams. The board now consists of 12 members. Townes-Whitley's appointment aims to enhance the company’s leadership and strategic vision as it seeks sustainable value in the energy sector.

Positive

• Toni Townes-Whitley's extensive technology background and leadership experience at Microsoft could provide fresh perspectives for Marathon Petroleum.
• The addition of Townes-Whitley increases the board's expertise in digital transformation and diversity initiatives.

Negative

• Concerns may arise regarding continuity and experience gaps due to the new board member's unfamiliarity with the energy sector.

FINDLAY, Ohio, Jan. 30, 2023 /PRNewswire/ -- Marathon Petroleum Corp. (NYSE: MPC) today announced that Toni Townes-Whitley has been elected to the company's board of directors, effective March 1, 2023.

Townes-Whitley is a global technology leader whose career spans more than 35 years, most recently as president of U.S. Regulated Industries at Microsoft Corporation. Prior to Microsoft, she held leadership roles with CGI Federal and Unisys Corporation. Townes-Whitley currently serves as an independent director on the boards of Nasdaq and PNC Financial Services.

"The addition of Toni's broad experience and extensive technology background to our board will be a tremendous asset to the company and its shareholders," said John Surma, chairman of the MPC board of directors. "On behalf of the board, it's a pleasure for me to welcome Toni. We look forward to her perspectives, her expertise and her business acumen as we continue our relentless pursuit of long-term, sustainable value in a changing world."

The election of Townes-Whitley will increase the number of directors on the MPC board to 12.

In her role at Microsoft, Townes-Whitley led the strategy for driving digital transformation with customers and partners across the U.S. public sector and commercial regulated industries. With P&L responsibility for a $16 billion portfolio, she was one of the leading business executives at Microsoft, and in the technology industry. Ms. Townes-Whitley developed a track record of accelerating and sustaining profitable business while building high-performance teams. She also helped launch new initiatives at Microsoft, building the ethics framework for Artificial Intelligence and emerging technologies, and establishing herself as a leader in diversity and inclusion efforts. Townes-Whitley has been recognized as a business leader, including by Fortune's Most Powerful Women: Ones to Watch, Women in Technology Leadership, Black Enterprise Top Executive, and many other organizations. 

Townes-Whitley earned her bachelor's degree in Public Policy & Economics from Princeton University and has received certifications from Wharton Executive Education, New York University and the Performance Management Institute. She serves on several not-for-profit boards as well.

About Marathon Petroleum Corporation

Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The company operates the nation's largest refining system. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. MPC also owns the general partner and majority limited partner interest in MPLX LP, a midstream company that owns and operates gathering, processing, and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure. More information is available at www.marathonpetroleum.com.

Investor Relations Contacts: (419) 421-2071
Kristina Kazarian, Vice President, Finance and Investor Relations
Brian Worthington, Director
Kenan Kinsey, Supervisor

Media Contact: (419) 421-3312
Jamal Kheiry, Communications Manager

 

View original content:https://www.prnewswire.com/news-releases/marathon-petroleum-corporation-announces-election-of-new-director-301733322.html

SOURCE Marathon Petroleum Corporation

FAQ

What is the significance of Toni Townes-Whitley's appointment to Marathon Petroleum's board?

Toni Townes-Whitley's appointment is significant as she brings over 35 years of experience in technology and leadership, which could enhance Marathon Petroleum's strategic direction.

When does Toni Townes-Whitley officially join the board of Marathon Petroleum?

Toni Townes-Whitley will officially join the board of Marathon Petroleum on March 1, 2023.

What experience does Toni Townes-Whitley have related to her role at Marathon Petroleum?

Toni Townes-Whitley has served as president of U.S. Regulated Industries at Microsoft and has extensive experience in driving digital transformation and managing large portfolios.

How many directors are on the board of Marathon Petroleum after this appointment?

After Toni Townes-Whitley's appointment, the board of Marathon Petroleum will consist of 12 directors.