Murphy Oil names exec for retail spin-off

by The City Wire staff ([email protected]) 110 views 

Murphy Oil Corp. announced the appointment of R. Andrew Clyde as President and CEO of Murphy Oil USA, Inc., the U.S. retail marketing subsidiary of Murphy Oil Corp.

Murphy Oil USA, Inc. currently has over 1,150 U.S. retail locations and recently announced an agreement with Wal-Mart Stores, Inc. to provide access to over 200 new locations in the midwest and southeast U.S.

“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 spin-off,” said Steven Cossé, 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.”

Clyde will report directly to Cossé until the completion of the previously announced spin-off of Murphy Oil USA, Inc., at which time he will report to the Board of Directors of the independent Murphy Oil USA, Inc., according to the company’s statement.

Clyde is a partner in Booz & Company’s global energy practice and has over  20 years of experience in management consulting.

In a press release, Murphy Oil says he has expertise in “downstream value chain and gasoline and convenience retailing.” Clyde has been involved in the performance review and analysis of Murphy’s U.S. retail business as it has moved through the transition of spinning off from its current parent firm.

Clyde joined the Energy, Chemicals and Utilities practice with Booz & Company 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 and Utilities practice since 2010.

He has a master’s degree in management with Distinction from Kellogg School of Management at Northwestern University. He received a bachelor’s degree in accounting
and a minor in geology from Southern Methodist University.