Murphy Oil Appoints Leader for Upcoming Retail Spinoff
Clyde to assume role of president, CEO for Murphy Oil USA
EL DORADO, Ark. -- Murphy Oil Corp. has appointed R. Andrew Clyde as president and chief executive officer of Murphy Oil USA Inc., the U.S. retail marketing subsidiary of Murphy Oil Corp.
"Andrew has been intimately involved with the Murphy USA business for several years and has been instrumental in preparing the retail business for our upcoming spinoff," said Steven A. Cosse, president and CEO of Murphy Oil Corp. "I look forward to working with him to complete the process of separating into two strong but distinct businesses."
In his new role, Clyde will report directly to Cosse until the completion of the previously announced spinoff of Murphy Oil USA, Inc., at which time he will report to the board of directors of the independent Murphy Oil USA Inc.
(See Related Content below for previous CSP Daily News coverage.)
Murphy Oil USA currently has more than 1,150 U.S. retail locations, and it recently announced an agreement with Wal-Mart Stores Inc. to provide access to more than 200 new locations in the Midwest and Southeast United States (see Related Content below.)
Clyde is a partner in Booz & Co.'s global energy practice and has more than 20 years of experience in management consulting, with specific focus on the downstream value chain and gasoline and convenience retailing. He has been instrumental in the performance review and analysis of Murphy's U.S. retail business. He has provided recommendations and assisted with implementation of operational improvements to the business and capital allocation for development projects to grow the network.
Clyde has been leading the development of the business strategy for the U.S. retail company to move forward as a separate entity.
He joined the Energy, Chemicals & Utilities practice with Booz & Co. in Dallas in 1993. He has served as managing partner of the Dallas office since 2007 and has been the practice leader of the North American Energy, Chemicals & Utilities practice since 2010.