Marathon Oil CEO to retire December 31, be replaced by Exxon executive

Thu Jun 13, 2013 9:27am EDT

Clarence Cazalot, Chairman, President and CEO of Marathon Oil, speaks during the CERAWEEK energy conference in Houston in this file photo taken March 5, 2013. REUTERS/Richard Carson/Files

Clarence Cazalot, Chairman, President and CEO of Marathon Oil, speaks during the CERAWEEK energy conference in Houston in this file photo taken March 5, 2013.

Credit: Reuters/Richard Carson/Files

(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)