Murphy USA announced that its board of directors has elected Mindy West to the newly created position of executive vice president and chief operating officer (COO).
In this role, West will have responsibility for both the Murphy USA and QuickChek brands, including store operations, merchandise, marketing and fuels.
Murphy and Mindy’s Past
In 2013, Murphy Oil Corp. approved the spin-off of its U.S. retail marketing business. The spin-off was achieved by distributing 100% of the shares of Murphy USA Inc. to holders of the Murphy Oil common stock.
After that, Murphy USA (MUSA) became a retail marketer of fuel and convenience merchandise and Murphy Oil became an independent exploration and production company.
The company’s next big move was the acquisition of QuickChek in 2021, through which Murphy picked up nearly 5,000 employees and increased its store count by 157 stores in the Northeast.
Some financing highlights of the acquisition included:
- $350 million five-year revolving credit facility
- $400 million secured term loan maturing in 2028 and priced at LIBOR plus 1.75%
- $500 million of 3.750% senior unsecured notes maturing in 2031
Since the 2013 spin, West has served as the executive vice president and chief financial officer; in 2018, she assumed responsibilities for all fuels activities. As COO, West will drive strategic initiatives and enhance the performance and profitability of the entire business, including synergistic activities across the brands.
“Since our spin-off, Mindy has made her mark on the company’s outstanding track record of creating shareholder value as CFO and more recently leading our fuels organization to record profits,” said Andrew Clyde, president and CEO of MUSA. “As we continue our trajectory and commitment to all stakeholders, she is uniquely positioned to lead and drive the next wave of advantaged growth for the business in this new and critical role.”
“Having joined MUSA’s parent company in 1996 as the first Murphy USA was being built, it has been an honor to play key roles in MUSA’s creation at our spin and the subsequent growth of this incredible business,” said West. “I am excited to take on this new role to harness the potential in front of us and position the Murphy USA and QuickChek brands to win in the future and lead an outstanding group of experienced leaders and dedicated team members who are committed to delivering affordability to our customers.”
Other Appointments
The company also announced Galagher Jeff has been hired as executive vice president and chief financial officer.
Jeff joins MUSA from Dollar Tree where he has served as senior vice president of financial planning and analysis, treasurer and chief transformation officer. Prior to Dollar Tree, Jeff was senior vice president of finance and head of strategy transformation at Advanced Auto Parts.
He also spent 11 years at Walmart, including roles as CFO of Walmart.com and vice president of U.S. merchandising strategy, pricing and assortment and business analytics.
Additionally, Chris Click, current senior vice president of strategy and development, has been promoted to executive vice president of strategy, growth and innovation where he will take on additional responsibility for asset development and digital transformation.
“Today’s changes reflect our continued commitment to deliver profitable growth, disciplined capital allocation and effective leadership development and succession planning,” said Andrew Clyde, president and CEO.
Murphy USA is a leading retailer of gasoline and convenience merchandise with more than 1,700 stores located primarily in the Southwest, Southeast, Midwest and Northeast U.S. The company and its team of nearly 15,000 employees serve an estimated two million customers each day through its network of retail gasoline and convenience stores in 27 states. The majority of Murphy USA’s stores are located in close proximity to Walmart Supercenters.
The company also markets gasoline and other products at standalone stores under the Murphy Express and QuickChek brands. Murphy USA ranks 182 among Fortune 500 companies.
