Marathon Petroleum Corp. announced that Maria A. Khoury will become its Executive Vice President and Chief Financial Officer, effective January 19 2026. Khoury joins the company with 25 years of global finance experience, having held senior finance roles at GE Healthcare Life Sciences, GE Oil & Gas, and Danaher’s biotechnology division.
John J. Quaid, the outgoing CFO, will remain with Marathon during a transition period and will move to a non‑executive role. The company has not specified the exact duration of Quaid’s transition, but the arrangement is intended to ensure continuity in financial leadership as Khoury takes the helm.
Khoury’s background in financial planning, treasury, and tax functions aligns closely with Marathon’s focus on disciplined capital allocation, growth, and risk management. Her experience in oil & gas and life sciences finance positions her to navigate the company’s capital‑intensive refining and midstream operations while supporting strategic investments in renewable energy initiatives.
The CFO appointment follows Marathon’s Q3 2025 earnings, in which revenue of $34.81 billion beat expectations of $33.53 billion, but adjusted earnings per share of $3.01 fell short of the $3.19 consensus. The miss highlighted the need for robust financial stewardship to manage margin compression and cost pressures while maintaining cash generation for shareholders.
"Maria’s deep financial operations expertise and broad industry experience will be a strong addition to our executive team as we pursue MPC’s strategic objectives," said CEO Maryann Mannen. "Her proven ability to develop competitive capital allocation, growth, and risk‑management strategies will advance our efforts to continue delivering industry‑leading cash generation and capital returns."
The appointment signals Marathon’s commitment to strengthening its financial leadership amid a volatile energy market. By bringing in a CFO with a track record of managing complex capital structures and driving operational efficiency, the company aims to sustain high refinery utilization, capture margin upside, and support its long‑term shareholder return strategy.
Marathon’s Q3 2025 results also underscored the company’s resilience: refining and marketing margins expanded to $6.37 per barrel from $4.15 the previous year, driven by strong diesel demand and tight inventory levels. However, narrowing crack spreads and competitive pricing pressures remain headwinds that the new CFO will need to address while pursuing growth opportunities in renewable diesel and other high‑margin segments.
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