Marathon Oil CEO to retire December 31, be replaced by Exxon executive
(Reuters) - Marathon Oil Corp (MRO.N) said on Thursday that Chairman and Chief Executive Clarence Cazalot will retire December 31 and be replaced by a senior Exxon Mobil Corp (XOM.N) executive.
Lee Tillman, 51, currently vice president of engineering for Exxon Mobil's development unit, will become Marathon Oil's CEO in 2014, the company said in a statement.
Dennis Reilley, Marathon Oil's current lead director, will be nominated to become non-executive chairman once Cazalot retires, the company said.
(Reporting by Ernest Scheyder; Editing by Gerald E. McCormick)