Murphy Oil CEO Steven Cosse to Step Down; Roger Jenkins to Take Over

by Lance Turner  on Monday, May. 6, 2013 8:17 am  

Roger Jenkins, Murphy Oil’s executive vice president and COO, will succeed Steven Cossé as president and CEO, the publicly traded oil and gas company announced Monday.

Murphy Oil Corp. of El Dorado said Monday that its president and CEO, Steve Cossé, has informed the board of directors that he will to step down from that position after the company spins off its retail unit into a separate company.

Roger Jenkins, Murphy’s executive vice president and COO, will succeed Cossé as president and CEO, according to the publicly traded oil and gas company.

In March, the company said in a proxy statement that it expected to complete the spinoff of its downstream retail gas station unit, first announced in October, to happen in the second half of 2013. In January, Murphy announced that R. Andrew Clyde would be the new company's president and CEO.

"We are grateful to Steve for guiding Murphy through this period of transition and are pleased to have Roger Jenkins on board to lead Murphy as it launches a new phase as an independent exploration and production company," Claiborne Deming, Murphy's board chairman and a former CEO, said. 

In a news release, Murphy Oil said that Cossé will remain with the company as a member of its board of directors.

Cossé was named president and CEO in June after the sudden retirement of former CEO David Wood. Cossé had already retired from company management in 2011, but was serving on the firm's board of directors.

Jenkins joined Murphy in 2001, and was named executive vice president of exploration and production in 2009. The company said he "has played a critical leadership role in Murphy’s worldwide exploration and production operations, including the development of the Kikeh field in Malaysia and the Eagle Ford Shale in South Texas."



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