EL DORADO, Ark. (AP) -- Murphy Oil has named R. Andrew Clyde as the president and CEO of its U.S. retail marketing arm.
Murphy Oil USA will become a separate company focused on selling fuels. The company operates retail gasoline stations throughout the U.S.
The company, which announced in October that it plans to split into two businesses, said Tuesday that Clyde is a partner at Booze & Co.'s global energy practice and has participated in the performance review and analysis of Murphy's U.S. retail business.
In his new post at Murphy Oil USA Inc., Clyde will report to Murphy Oil Corp. CEO Steven Cosse. Once Murphy Oil USA is spun off, he will report to that company's board.
Shares of Murphy Oil, based in El Dorado, Ark., declined 45 cents to $59.76 in morning trading.