Marathon Petroleum: Maryann Mannen To Succeed Donald Templin As CFO
WASHINGTON (dpa-AFX) - Marathon Petroleum Corp. (MPC) announced the appointment of Maryann Mannen as Executive Vice President and Chief Financial Officer, effective January 25. Since 2017, Mannen has served as Executive Vice President and Chief Financial Officer of TechnipFMC. From 2011 to 2017, she was Chief Financial Officer at FMC Technologies. Having spent nearly a decade as CFO in the energy services and manufacturing sectors, Maryann brings the financial acumen and strategic leadership experience critical for delivering our business transformation objectives, including strict capital discipline and overall expense management to lower our cost structure, said CEO Michael Hennigan.
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TechnipFMC Resumes Spinoff Plans Delayed by Last Year’s Oil Market Turmoil
The transaction is expected to be structured as a spin-off of a majority stake in TechnipFMC’s Technip Energies segment and completed in first-quarter 2021.
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Franco-American oil services firm TechnipFMC Plc said on Jan. 7 it resumed its plan to split itself into two after delaying the move early last year.
The group, created nearly four years ago via the merger of Technip and FMC, had been planning to separate its engineering and construction activities from its upstream oil services business.
TechnipFMC
plc (the “Company”) (NYSE: FTI) (Paris: FTI) (ISIN:GB00BDSFG982) today announced the resumption of activities toward its planned separation into two industry-leading, independent, publicly traded companies: TechnipFMC, a fully integrated technology and services provider; and Technip Energies, a leading engineering and technology player. The separation would enhance TechnipFMC’s and Technip Energies’ focus on their respective strategies and provide both improved flexibility and growth opportunities, with each company uniquely positioned to capitalize on the energy transition.
The transaction is expected to be structured as a spin-off of a majority stake in TechnipFMC’s Technip Energies segment. The separation is expected to be completed in the first quarter of 2021, subject to customary conditions and regulatory approvals.