Latest News Updates From David Wethe and Scott Deveau

Business, Fuel

Marathon Petroleum Bows to Activist Push With Spinoff, CEO Exit

Marathon Petroleum Corp. buckled under pressure from shareholders and announced the spinoff of its retail fuel-station business and the departure of its chairman and chief executive officer, just five weeks after activist investor Elliott Management Corp. went public with demands for a radical overhaul of the company.

October 31, 2019