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Marathon Petroleum CEO to Retire as Company Spins Off Gas Stations

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Marathon CEO Gary Heminger plans to step down next year after more than eight years at the fuel maker’s helm

The chief executive of fuel maker Marathon Petroleum Corp. is stepping down and the company is spinning off its gas-station chain to placate activist investors including Elliott Management Corp.

Chairman and Chief Executive Gary Heminger, 66, plans to step down next year after more than eight years at the company’s helm, Marathon said Thursday.

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