Marathon Petroleum Management

Management criteria checks 3/4

Marathon Petroleum's CEO is Mike Hennigan, appointed in Mar 2020, has a tenure of 4.08 years. total yearly compensation is $24.05M, comprised of 7.2% salary and 92.8% bonuses, including company stock and options. directly owns 0.061% of the company’s shares, worth €40.75M. The average tenure of the management team and the board of directors is 3.2 years and 5.9 years respectively.

Key information

Mike Hennigan

Chief executive officer

US$24.1m

Total compensation

CEO salary percentage	7.2%
CEO tenure	4.1yrs
CEO ownership	0.06%
Management average tenure	3.2yrs
Board average tenure	5.9yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Mike Hennigan's remuneration changed compared to Marathon Petroleum's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	US$24m	US$2m	US$10b
Sep 30 2023	n/a	n/a	US$11b
Jun 30 2023	n/a	n/a	US$13b
Mar 31 2023	n/a	n/a	US$16b
Dec 31 2022	US$21m	US$2m	US$14b
Sep 30 2022	n/a	n/a	US$12b
Jun 30 2022	n/a	n/a	US$8b
Mar 31 2022	n/a	n/a	US$3b
Dec 31 2021	US$21m	US$2m	US$1b
Sep 30 2021	n/a	n/a	US$475m
Jun 30 2021	n/a	n/a	-US$1b
Mar 31 2021	n/a	n/a	-US$2b
Dec 31 2020	US$16m	US$1m	-US$11b
Sep 30 2020	n/a	n/a	-US$11b
Jun 30 2020	n/a	n/a	-US$9b
Mar 31 2020	n/a	n/a	-US$8b
Dec 31 2019	US$8m	US$954k	US$2b

Compensation vs Market: Mike's total compensation ($USD24.05M) is above average for companies of similar size in the German market ($USD5.66M).

Compensation vs Earnings: Mike's compensation has been consistent with company performance over the past year.

CEO

Mike Hennigan (64 yo)

4.1yrs

Tenure

US$24,054,492

Compensation

Mr. Michael J. Hennigan, also known as Mike, is Chairman of the Board of MPLX GP LLC, the General Partner of MPLX LP since April 29, 2020. Mr. Hennigan is Chief Executive Officer at MPLX GP LLC, the Genera...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Michael Hennigan	CEO & Director	4.1yrs	US$24.05m	0.061% $ 40.8m
Maryann Mannen	President	less than a year	US$8.68m	0.022% $ 14.9m
Timothy Aydt	Executive Vice President of Refining	1.6yrs	US$5.27m	0.0040% $ 2.7m
Gregory Floerke	Executive VP & COO of MPLX	3.2yrs	US$3.19m	0.0083% $ 5.5m
John Quaid	Executive VP & CFO	less than a year	no data	0.0090% $ 6.0m
Kristina Kazarian	Vice President of Finance & Investor Relations	6yrs	no data	no data
Molly Benson	Chief Legal Officer & Corporate Secretary	8.1yrs	no data	0.0075% $ 5.0m
Fiona Laird	Senior VP of Communications & Chief Human Resources Officer	5.5yrs	no data	no data
Brian Partee	Chief Global Optimization Officer	3.2yrs	no data	no data
James Wilkins	Senior Vice President of Health	3.2yrs	no data	no data
Rick Hessling	Chief Commercial Officer	5.5yrs	no data	0.0023% $ 1.6m
David Heppner	Chief Strategy Officer & Senior VP of Business Development	3.2yrs	no data	no data

3.2yrs

Average Tenure

56yo

Average Age

Experienced Management: MPN's management team is considered experienced (3.2 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Michael Hennigan	CEO & Director	4yrs	US$24.05m	0.061% $ 40.8m
Susan Tomasky	Independent Director	6.3yrs	US$350.00k	0.0030% $ 2.0m
Charles Bunch	Independent Director	8.6yrs	US$356.25k	0.0018% $ 1.2m
Frank Semple	Independent Director	3yrs	US$541.25k	0% $ 0
John Surma	Independent Non Executive Chairman of the Board	12.8yrs	US$756.25k	0.0028% $ 1.9m
Jonathan Cohen	Independent Director	4.3yrs	US$350.00k	0.0035% $ 2.4m
B. Bayh	Independent Director	12.8yrs	US$346.25k	0.0031% $ 2.1m
Edward Galante	Independent Director	5.5yrs	US$371.25k	0.0018% $ 1.2m
Kim K. Rucker	Independent Director	5.5yrs	US$340.00k	0.0066% $ 4.4m
Eileen Drake	Independent Director	less than a year	no data	0.000070% $ 46.8k
Abdulaziz Bin Fahd Al-Khayyal	Independent Director	7.5yrs	US$325.00k	0.0061% $ 4.1m
John Stice	Independent Director	7.2yrs	US$546.25k	0.0058% $ 3.9m

5.9yrs

Average Tenure

68.5yo

Average Age

Experienced Board: MPN's board of directors are considered experienced (5.9 years average tenure).

Marathon Petroleum Management

Management criteria checks 3/4

Key information

Recent management updates

Executive Vice President of Refining recently sold €1.3m worth of stock

Marathon Petroleum Corporation Announces Board Elections

Marathon Petroleum Corporation, Annual General Meeting, Apr 24, 2024

Marathon Petroleum Corporation Announces Management Changes

Marathon Petroleum Corp. Announces Chief Financial Officer Changes Effective January 1, 2024

Insufficient new directors

Recent updates

Marathon Petroleum Corporation Announces Quarterly Dividend, Payable on June 10, 2024

Marathon Petroleum Corporation to Report Q1, 2024 Results on Apr 30, 2024

Investor sentiment improves as stock rises 16%

Full year 2023 earnings released: EPS: US$23.76 (vs US$28.20 in FY 2022)

Executive Vice President of Refining recently sold €1.3m worth of stock

Upcoming dividend of US$0.82 per share at 2.0% yield

Fourth quarter dividend of US$0.82 announced

Marathon Petroleum Corporation Announces Board Elections

Full year 2023 earnings released: EPS: US$23.79 (vs US$28.20 in FY 2022)

Marathon Petroleum Corporation Provides Production Guidance for the First Quarter of 2024

Marathon Petroleum Corporation, Annual General Meeting, Apr 24, 2024

Marathon Petroleum Corporation Announces Management Changes

Marathon Petroleum Corp. Announces Chief Financial Officer Changes Effective January 1, 2024

Marathon Petroleum Corporation to Report Q4, 2023 Results on Jan 30, 2024

Insufficient new directors

Upcoming dividend of US$0.82 per share at 2.3% yield

Marathon Petroleum Corporation Announces Management Changes

Third quarter 2023 earnings released: EPS: US$8.33 (vs US$9.11 in 3Q 2022)

Marathon Petroleum Corporation (NYSE:MPC) announces an Equity Buyback for $5,000 million worth of its shares.

Marathon Petroleum Corp. Declares Quarterly Dividend, Payable on December 11, 2023

Marathon Petroleum Corporation to Report Q3, 2023 Results on Oct 31, 2023

Upcoming dividend of US$0.75 per share at 2.1% yield

Marathon Petroleum Corp. Announces Quarterly Dividend, Payable on September 11, 2023

Insufficient new directors

Insufficient new directors

Marathon Petroleum Corporation to Report Q2, 2023 Results on Aug 01, 2023

Marathon Petroleum Corporation Announces Resignation of Toni Townes-Whitley from the Board, Effective June 30, 2023

Upcoming dividend of US$0.75 per share at 2.8% yield

First quarter 2023 earnings released: EPS: US$6.14 (vs US$1.50 in 1Q 2022)

Now 22% undervalued

Upcoming dividend of US$0.75 per share at 2.5% yield

Full year 2022 earnings released: EPS: US$28.21 (vs US$2.03 in FY 2021)

Marathon Petroleum Corporation Elects Toni Townes-Whitley to the Board of Directors

Marathon Petroleum Corporation, Annual General Meeting, Apr 26, 2023

Marathon Petroleum Corporation to Report Q4, 2022 Results on Jan 31, 2023

Upcoming dividend of US$0.75 per share

Third quarter 2022 earnings released: EPS: US$9.12 (vs US$1.10 in 3Q 2021)

Marathon Petroleum Corporation Declares Quarterly Dividend, Payable on Dec. 12, 2022

Marathon Petroleum Corporation to Report Q3, 2022 Results on Nov 01, 2022

Now 22% undervalued

Marathon Petroleum Corporation Announces Executive Changes

Upcoming dividend of US$0.58 per share

Second quarter 2022 earnings released: EPS: US$11.04 (vs US$0.46 in 2Q 2021)

Marathon Petroleum Corp. Announces Quarterly Dividend, Payable on September 12, 2022

Marathon Petroleum Corporation Announces Demise of Steven A. Davis, Member of Board of Directors

Marathon Petroleum Corporation to Report Q2, 2022 Results on Aug 02, 2022

Investor sentiment deteriorated over the past week

Now 20% undervalued

Upcoming dividend of US$0.58 per share

First quarter 2022 earnings released: EPS: US$1.50 (vs US$0.73 loss in 1Q 2021)

Marathon Petroleum Corp. Announces Quarterly Dividend, Payable on June 10, 2022

Marathon Petroleum Corporation Announces Resignation of Raymond L. Brooks, Executive Vice President, Refining, Effective September 9, 2022

Upcoming dividend of US$0.58 per share

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Marathon Petroleum Corp. Announces Quarterly Dividend, Payable on March 10, 2022

Upcoming dividend of US$0.58 per share

Third quarter 2021 earnings released: EPS US$1.10 (vs US$1.93 loss in 3Q 2020)

High number of new directors

High number of new directors

Upcoming dividend of US$0.58 per share

Upcoming dividend of US$0.58 per share

First quarter 2021 earnings released: US$0.73 loss per share (vs US$14.25 loss in 1Q 2020)

Marathon Petroleum Corporation Provides Operating Guidance for the Second Quarter of Fiscal Year 2021

Lead Independent Director has left the company

Marathon Petroleum Corp. Announces Quarterly Dividend, payable on June 10, 2021

Marathon Petroleum Corporation to Report Q1, 2021 Results on May 04, 2021

New 90-day high: €46.06

Revenue misses expectations

Full year 2020 earnings released: US$17.14 loss per share (vs US$4.00 profit in FY 2019)