09:45 AM EST, 11/04/2025 (MT Newswires) -- Marathon Petroleum ( MPC ) said Tuesday its board of directors has elected President and Chief Executive Maryann T. Mannen as its chairman, starting Jan. 1, 2026.

Mannen, who will continue in her current roles as president and CEO, will succeed Michael J. Hennigan, who elected to retire as executive chairman and from the board on the same date.

John Surma will remain the board's independent lead director, the company said.

Shares of Marathon Petroleum ( MPC ) were down more than 9% in recent early Tuesday trading.

Price: 177.46, Change: -18.48, Percent Change: -9.43