EL DORADO, Ark. -- The board of directors of Murphy Oil Corp. have appointed Steve Cosse as president and chief executive officer, effectively immediately. David Wood, the company's current president, CEO and member of the board, will retire after a 17-year career at the company and resign from his director position.
Murphy's board also named Roger Jenkins, the company's executive vice president of exploration and production, to the newly created position of chief operating officer.
Cosse, a current member of Murphy's board, previously served as Executive vice president and general counsel of the company. During his tenure at Murphy, Cosse also held positions as senior vice president, vice president and principal financial officer. Prior to joining Murphy in 1991, Cosse served as general counsel for Ocean Drilling & Exploration Co., New Orleans, Louisiana, a majority-owned subsidiary of Murphy at that time.
Jenkins joined Murphy in 2001 and was named executive vice president of exploration and production in 2009. He has played a critical leadership role in the company's worldwide exploration and production operations. Prior to joining Murphy, Jenkins spent 17 years with a major oil company.
"David has accomplished a great deal during his tenure with the company," the board said in a statement. "We are grateful for his contribution and thank him for his dedication to Murphy."
Wood will remain a consultant to Murphy for a period of one year.
El Dorado, Ark.-based Murphy Oil is an international oil and gas company that conducts business through various operating subsidiaries. It produces oil and/or natural gas in the United States, Canada, Malaysia, the United Kingdom and the Republic of the Congo and conducts exploration activities worldwide.
The company owns marketing operations in the United States and the United Kingdom, including a refinery in Milford Haven, Wales.
Murphy Oil USA, Inc. operates a retail gasoline network of more than 1,100 stations in 23 states with these high-volume, low-cost outlets located primarily in the parking areas of Wal-Mart Supercenters. In addition, the company operates a network of six owned petroleum product terminals and uses numerous third-party terminals to provide fuel supply to the retail network.
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