The El Dorado-based company more than doubles its half-year profits from 2015, citing strong retail fuel results. CEO Andrew Clyde also cited "record merchandise margins" as the company continues to add stores.
R. Andrew Clyde will be president and CEO of the new publicly traded company, which will include the Murphy USA retail outlets, seven product distribution terminals and two ethanol production facilities in North Dakota and Texas. The spinoff also marks the second retirement of Murphy Oil CEO Steven Cossé. He will be succeeded Friday by Roger Jenkins, who has been Murphy Oil's executive vice president and chief operating officer.