The board of directors of Marathon Oil Corp. (NYSE: MRO) has elected Morris R. Clark, currently Marathon Oil assistant treasurer, to the position of vice president and treasurer effective Jan. 1, 2014. He will succeed Michael K. Stewart as treasurer. Stewart has elected to retire after 28 years of service. Clark will continue to be located in Houston and report to John R. Sult, Marathon Oil executive vice president and CFO.
Clark began his career with Marathon Oil in 2002 when he joined the company as senior tax counsel. He was appointed to his current position as assistant treasurer in 2007. He earned a bachelor’s degree in accounting from Southern University and subsequently earned a Juris Doctorate degree from Tulane Law School, and later a Master of Laws degree in taxation from New York University School of Law. His experience prior to joining Marathon Oil included serving as an accountant with Touche Ross & and as a tax attorney with Bracewell & Patterson and Enron North America.
Commenting on Stewart's retirement, Clarence P. Cazalot Jr., Marathon Oil executive chairman, said, "On behalf of all Marathon Oil employees, I want to thank Mike Stewart for his many years of dedicated service to our company. Throughout his career, Mike has distinguished himself through his depth of knowledge of accounting and finance and the application of his considerable skills in these critical areas of our business. But certainly of equal importance is the fact that Mike is someone who has demonstrated unquestioned honesty, integrity and the highest ethical standards in carrying out all aspects of his responsibilities. We wish Mike and his family all the very best for good health and much happiness in the years ahead."
Currently, Stewart serves as vice president of Accounting and Finance, Controller and Treasurer and, following his retirement, Sult will serve as Marathon Oil's principal accounting officer in addition to his other responsibilities.