New Murphy Oil Chief Named as Former CEO Retires

EL DORADO, Ark. -- Murphy Oil Corp.'s board of directors has appointed Steve Cossé to serve as the new company president and chief executive officer, effective immediately. Cossé succeeds current president, CEO and board member David Wood, who will resign from his director position and retire following a 17-year career with Murphy. Wood will serve as a consultant to Murphy for one year.

"David has accomplished a great deal during his tenure with the company," the board of directors said in a released statement. "We are grateful for his contribution and thank him for his dedication to Murphy."

The board also appointed Roger Jenkins, chief executive vice president of exploration and production, to the role of chief operating officer, a newly created position.

Cossé is a current member of the board of directors and previously served as executive vice president and general counsel of the company. He has also held the positions of senior vice president, vice president and principal financial officer. Before joining Murphy in 1991, Cossé served as general counsel for New Orleans-based Ocean Drilling & Exploration Co., a then-majority owned subsidiary of Murphy.

Jenkins joined Murphy in 2001 after 17 years in the oil industry and became executive vice president of exploration and production in 2009. He holds a bachelor's degree in petroleum engineering from Louisiana State University, an MBA from Tulane University and completed the advanced management program from Harvard Business School.

Murphy Oil USA Inc. operates a retail fuel network of more than 1,100 locations in23 states.