President selected for Murphy spinoff

Murphy Oil Corp. has named R. Andrew Clyde as president and chief executive officer of Murphy Oil USA Inc., its retail marketing subsidiary.

Tuesday’s announcement comes as Murphy Oil prepares to spin off its retail business from its exploration and production operations later this year.

Clyde is a partner in Booz & Co.’s management consulting firm with a specific focus on downstream operations and gasoline and convenience retailing, according to a news release. Clyde will report to Steven Cosse, president and chief executive officer of Murphy Oil until the spinoff is completed.

Murphy Oil USA has more than 1,150 retail locations in the United States and plans to open 200 in an agreement with WalMart Stores Inc.