HOUSTON, April 27 /PRNewswire-FirstCall/ -- Marathon Oil Corporation announced today that its board of directors has elected Michael K. Stewart to the position of vice president, Accounting and Controller. Stewart succeeds Albert G. Adkins, Marathon's current vice president of Accounting who has elected to retire after 30 years of service. These changes are effective May 1, 2006.
"With more than 26 years of accounting experience, Mike possesses exceptional knowledge of our business and has strong skills that are ideal for leading our accounting organization," said Clarence P. Cazalot, Jr., Marathon president and CEO. "We look forward to Mike's leadership and his continued contributions to our Company. In addition, we thank Al Adkins for his 30 years of leadership and dedicated service to the Company, and we wish him the very best in his retirement."
Since July 2005, Stewart has served as Marathon's Controller, responsible for various accounting functions including those related to international and domestic business units, subsidiaries and joint ventures.
Stewart is a graduate of Southern University in Baton Rouge, La, where he earned a Bachelor of Science degree in accounting, and the University of Houston where he earned a Master of Business Administration degree.
Stewart began his career in 1979 as an internal auditor for Exxon Mobil Corporation in Houston and later was a tax specialist with KPMG.
In 1985, Stewart joined Marathon and held various management and professional positions in the Tax department, serving the Company in Findlay, Ohio, Houston and London. In 1998, he was promoted to audit manager at USX Corporation, the former holding company for Marathon Oil Company. In 2000, Stewart was named director of corporate staff for USX. In 2001, he held the position of manager of internal reporting and external analysis for Marathon. Beginning in 2002, Stewart was director of internal audit for Marathon where he directed the internal audit activities for the Company worldwide.
Marathon is the fourth-largest U.S.-based fully integrated international energy company engaged in exploration and production; integrated gas; and refining, marketing and transportation operations. The Company has exploration and production activities in the United States, the United Kingdom, Angola, Canada, Equatorial Guinea, Gabon, Ireland, Libya, Norway and Russia. Marathon also is developing integrated gas projects that are linking stranded natural gas resources with key demand areas where domestic production is declining and demand is growing, particularly in North America. Marathon is the fifth largest refiner in the U.S. The Company's retail marketing system comprises approximately 5,500 locations in 17 states. For more information about Marathon, please visit the Company's Web site at http://www.marathon.com/ .
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