Marathon Petroleum Corporation Announces Retirement of Vice President and Controller Michael G. Braddock and Appointment of John J. Quaid as Vice President and Controller
FINDLAY, Ohio, May 28, 2014 - Michael G. Braddock, vice president and controller of Marathon Petroleum Corporation (MPC), has announced his intention to retire effective Oct. 1, 2014. Until his retirement, Mr. Braddock will continue as vice president and chief accounting officer of both MPC and MPLX LP. In conjunction with Mr. Braddock`s pending retirement, MPC announced the appointment of John J. Quaid to the position of vice president and controller, effective June 23, 2014.
"During the past 34 years, Mike has made many significant contributions to the success of MPC," said Don Templin, senior vice president and chief financial officer. "His leadership concerning the public reporting requirements for both MPC and MPLX has been impressive. Mike has been instrumental in managing the change and controls implications of several significant systems implementations since MPC became a stand-alone public company. He has also been a tremendous support to me and he will be missed."
MPC President and CEO Gary R. Heminger added, "I greatly appreciate Mike`s many years of service and commitment to MPC. I wish Mike and his family well in the coming years."
Templin stated, "We are delighted to welcome John Quaid to MPC. His broad experience including working in public accounting, managing complex systems implementations, supporting investor relations and various corporate accounting and finance roles makes John an excellent fit for our leadership team."
Mr. Quaid graduated from Lehigh University in 1994 with a bachelor`s degree in accounting. After completing his undergraduate degree, Mr. Quaid joined PricewaterhouseCoopers` audit and assurance practice and was promoted to manager in 1998. While at PricewaterhouseCoopers, he served a number of major companies in the steel, oil and gas, networking technology and consumer products industries. At the end of 1999, he joined FastForward Inc., an enterprise marketing software developer and service provider as corporate controller.
In February 2002, Mr. Quaid began his career with U.S. Steel as manager of Investor Relations. In 2004, he advanced to director of Facility Marketing and Business Planning and was responsible for sales and operations planning activities. In 2005, he relocated to Serbia after being named director of Finance for the former U.S. Steel Serbia with responsibility for accounting and analysis, tax, cash and banking, and credit and collections.
Mr. Quaid returned to the U.S. in 2007 to serve as a lead project manager for U.S. Steel`s enterprise resource planning project. He advanced to assistant corporate controller in 2008 and was named controller, North American Flat-Rolled Operations in July 2010. Mr. Quaid was elected vice president and treasurer in August 2011, assuming executive responsibility for all of U.S. Steel`s treasury functions, including cash and banking, credit and collections, corporate finance and corporate insurance. In January 2014, Mr. Quaid became vice president of Iron Ore, with responsibilities for all mining operations.
# # #
About Marathon Petroleum Corporation
MPC is the nation`s fourth-largest refiner, with a crude oil refining capacity of approximately 1.7 million barrels per calendar day in its seven-refinery system. Marathon brand gasoline is sold through approximately 5,200 independently owned retail outlets across 18 states. In addition, Speedway LLC, an MPC subsidiary, owns and operates the nation`s fourth-largest convenience store chain, with approximately 1,480 convenience stores in nine states. MPC also owns, leases or has ownership interests in approximately 8,300 miles of pipeline. Through subsidiaries, MPC owns the general partner of MPLX LP, a midstream master limited partnership. MPC`s fully integrated system provides operational flexibility to move crude oil, feedstocks and petroleum-related products efficiently through the company`s distribution network in the Midwest, Southeast and Gulf Coast regions. For additional information about the company, please visit our website at http://www.marathonpetroleum.com.
Investor Relations Contacts:
Beth Hunter (419) 421-2559
Geri Ewing (419) 421-2071
Media Contacts:
Angelia Graves (419) 421-2703
MPC Announces Retirement of Braddock and Appointment of Quaid
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Marathon Petroleum Corporation via GlobeNewswire
HUG#1789343
