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The departure of David Wood as Murphy Oil (MUR -0.4%) CEO took analysts by surprise. Wood was...

The departure of David Wood as Murphy Oil (MUR -0.4%) CEO took analysts by surprise. Wood was with the company for 17 years and hadn't signaled any plans to step down, Tudor Pickering Holt says; he gave no indication that he might be quitting during a May analyst meeting, Deutsche Bank says in suspecting "some kind of internal issue."
Comments (3)
  • "some kind of internal issue."

     

    Like what? Doesn't anyone have a clue?
    21 Jun 2012, 10:48 AM Reply Like
  • I don't know what caused this change, but they couldn't have gotten anybody better to take over the helm. Steve Cosse has been with the ODECO/ Murphy enterprise ever since he graduated from law school. Over those 40 years, he has had experience with all phases of the business (everything from drilling, exploration and production). He knows everyone in management and has a keen legal mind and appropriate legal experience for a time when the enterprise is spinning off its downstream operations and facilities. Roger Jenkins is a tough, smart operator with broad E&P experience and will handle the COO job well.
    22 Jun 2012, 11:09 AM Reply Like
  • Thanks for the additional input. I sense the company is being structured as an attractive merger/takeover candidate.
    23 Jun 2012, 08:42 AM Reply Like
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