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Marathon Petroleum Corporation

Petroleum Refining & MarketingFounded 1887
Reviewed by Swet Parvadiya
Company data updated: October 2026

Founders

Who Founded Marathon Petroleum?

Henry M. Ernst · Founded 1887 · HQ today: Findlay, Ohio, United States

Who founded Marathon Petroleum?

Marathon Petroleum was founded by Henry M. Ernst in 1887 in Lima, Ohio. It is now led by Maryann T. Mannen.

Founders
Henry M. Ernst
Founded
1887
Headquarters
Findlay, Ohio, United States
Number of founders
1
Current CEO
Maryann T. Mannen (since 2024)
Where was Marathon Petroleum founded?
Marathon Petroleum was founded in Lima, Ohio in 1887. marathonpetroleum.com
When was Marathon Petroleum founded?
Marathon Petroleum was founded in 1887.
Who started Marathon Petroleum?
Marathon Petroleum was founded by Henry M. Ernst.
How old is Marathon Petroleum?
Marathon Petroleum is 139 years old as of 2026.

Founding Story

The Ohio Oil Company was formed in 1887 to produce oil from the Lima-Indiana field. Standard Oil bought it in 1889, and the company became independent again after the 1911 Supreme Court breakup of Standard Oil. It acquired the Marathon name with Transcontinental Oil in 1930, renamed itself Marathon Oil in 1962, was owned by U.S. Steel/USX from 1982 to 2001, and in 2011 spun off its downstream businesses as Marathon Petroleum Corporation.

Henry M. Ernst

Co-founder 1887

Background

Ernst was part of the group of Ohio oil producers active during the Lima-Indiana boom of the late 1880s. Detailed biographical records are limited.

Role at Marathon Petroleum Corporation

Henry M. Ernst is credited as a founder of The Ohio Oil Company, organized in 1887 by a group of independent producers in the Lima-Indiana oil field of northwestern Ohio. The company was bought by Standard Oil in 1889, regained independence in 1911, and is the corporate ancestor of both Marathon Oil and Marathon Petroleum. (Exact birth year remains publicly undisclosed).

Marathon Petroleum Corporation: CEO & Leadership History

Full timeline →

Maryann T. Mannen

Chairman, President and Chief Executive Officer

2024 – Present

Became CEO on August 1, 2024 and later added the chairman role. Previously MPC's CFO and before that CFO of TechnipFMC. Under her leadership MPC has emphasized refinery utilization, yield projects, MPLX growth and capital returns.

Michael J. Hennigan

President and Chief Executive Officer

2020 – 2024

Under his tenure, MPC structurally lowered its cost base and shrank its share count significantly using Speedway proceeds. He improved refinery utilization and guided the company through a period of record refining margins in 2022 before handing the CEO role to Maryann Mannen.

Gary R. Heminger

Chairman and Chief Executive Officer

2011 – 2020

He built Marathon from a regional Midwest player into the largest independent refiner in the United States by crude capacity. During his nine-year tenure, he integrated major acquisitions and established the fee-based midstream business that stabilizes cyclical refining earnings.

Compare Marathon Petroleum Corporation Leadership With Competitors

Marathon Petroleum Corporation vs Phillips 66 Leadership →Overview

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Who Founded Marathon Petroleum? FAQ

What are the historical founding origins of Marathon Petroleum Corporation?

Marathon Petroleum traces its roots to 1887, when independent producers formed The Ohio Oil Company in Lima, Ohio, to develop the Lima-Indiana oil field. Headquarters moved to Findlay in 1889.

How was The Ohio Oil Company acquired by and later liberated from Standard Oil?

Standard Oil acquired The Ohio Oil Company in 1889. Following the landmark 1911 US Supreme Court antitrust ruling that dissolved the Standard Oil monopoly, The Ohio Oil Company was legally broken off as an independent exploration and refining corporation.

When did the company adopt the brand name 'Marathon'?

Ohio Oil acquired the Marathon name, its Greek runner logo and the slogan 'Best in the Long Run' with Transcontinental Oil in 1930, and renamed itself Marathon Oil Company in 1962.

What was US Steel's historic acquisition and ownership of Marathon (1982 to 2001)?

In 1982, US Steel acquired Marathon Oil Company for $6.5 billion to diversify into energy, creating the dual tracking stock USX Corporation before formally spinning Marathon Oil off as an independent public energy company in 2001.

How did Marathon Petroleum Corporation spin off from Marathon Oil in 2011?

On July 1, 2011, Marathon Oil Corporation completed a tax-free corporate spinoff, separating its upstream oil exploration business (Marathon Oil, based in Houston) from its downstream refining, marketing, and pipeline business (Marathon Petroleum, based in Findlay).

Who was Donnell family and what was their multi-generational impact on Ohio Oil/Marathon?

James C. Donnell, Otto D. Donnell, and James C. Donnell II served as successive presidents of The Ohio Oil Company and Marathon Oil for nearly 90 years (1889 to 1977), establishing Findlay, Ohio as a major American energy capital.

Where did the Speedway brand come from?

Marathon gained Speedway 79 branded stations when it bought Aurora Gasoline Company in 1959. Speedway grew into a large convenience chain before MPC sold it to 7-Eleven in 2021.

Where did Marathon Petroleum build its first grassroots modern refinery?

Marathon started up its Garyville, Louisiana refinery on the Mississippi River in 1976. It is often cited as the last large grassroots refinery built in the US and has since been expanded into one of the country's largest.

Who founded Marathon Petroleum?

It is a corporate descendant of the absolute most powerful monopoly in American history. In 1887, the Ohio Oil Company was founded and was quickly acquired by John D. Rockefeller's Standard Oil. When the US Supreme Court brutally broke up Standard Oil in 1911, Ohio Oil became independent again. Over a century later, the refining assets of this legendary lineage were spun off to create the modern Marathon Petroleum.

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.