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Marathon Oil CEO to retire December 31, be replaced by Exxon executive

Clarence Cazalot, Chairman, President and CEO of Marathon Oil, speaks during the CERAWEEK energy conference in Houston in this file photo ta
Clarence Cazalot, Chairman, President and CEO of Marathon Oil, speaks during the CERAWEEK energy conference in Houston in this file photo ta

(Reuters) - Marathon Oil Corp said on Thursday that Chairman and Chief Executive Clarence Cazalot will retire December 31 and be replaced by a senior Exxon Mobil Corp executive.

Lee Tillman, 51, currently vice president of engineering for Exxon Mobil's development unit, will become Marathon Oil's CEO in 2014, the company said in a statement.

Dennis Reilley, Marathon Oil's current lead director, will be nominated to become non-executive chairman once Cazalot retires, the company said.

(Reporting by Ernest Scheyder; Editing by Gerald E. McCormick)

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