1. Marathon Petroleum Bows to Activist Push With Spinoff, CEO Exit

    Marathon Petroleum Bows to Activist Push With Spinoff, CEO Exit

    Marathon Petroleum Corp. buckled under pressure from shareholders and announced the spinoff of its retail fuel-station business and the departure of its Chairman and Chief Executive Officer, just five weeks after activist investor Elliott Management Corp. went public with demands for a radical overhaul of the company. Marathon confirmed the plan Thursday, along with a review of its pipeline business...

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    1. The wish list was pretty well fulfilled with today's slew of announcements.
    2. The actions announced today will unlock substantial value for shareholders.
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