Murphy USA has announced that Mindy K. West, the company’s current chief operating officer, will immediately be appointed to president, and will succeed Andrew Clyde as CEO on Jan. 1, 2026. West will also become a member of the board of directors on that date, with Clyde retiring from the board on Dec. 31.
In addition, the board also reaffirmed the key elements of its 50/50 long-term capital allocation strategy and approved the following key actions in support of that strategy. Both actions are designed to increase the value returned to shareholders and to ensure continuity of the strategy through Murphy USA’s CEO succession:
- The board approved a new share repurchase program for up to $2 billion that will expire on Dec. 31, 2030. This new authorization will begin upon the completion of the current $1.5 billion repurchase authorization, of which $337 million remains available.
- The board of directors also declared a quarterly cash dividend of $0.63 per common share, $2.52 on an annualized basis, which is a 19% increase from the Q3 2025 dividend. The record date for this dividend will be Nov. 10, and the payment date will be Dec. 1.
“On behalf of the board, I am delighted to welcome Mindy as Murphy USA’s next president and CEO and as a member of our board,” said Madison Murphy, board chairman. “Mindy’s proven leadership and deep expertise in our business and industry make her uniquely qualified to guide Murphy USA into its next chapter. We are confident in her ability to build on our strong foundation and drive continued success for our company and our shareholders.”
“Our thoughtful succession planning has positioned Murphy USA for this leadership transition,” said Clyde, outgoing president and CEO. “Mindy has played a pivotal role in shaping our strategy and delivering results, and I am proud to support her as she leads the company forward. I am certain that under her leadership, Murphy USA will continue its tradition of growth, disciplined capital allocation and significant value creation for all stakeholders.”
West joined Murphy Oil Corp., Murphy USA’s former parent, in 1996 and held various positions across finance, HR and planning. In 2013, in connection with the spin-off, West was named executive vice president, CFO and treasurer of Murphy USA and in 2017, she added the fuels leadership role. As part of the board’s succession planning process, West was elevated to chief operating officer in February 2024 and assumed responsibility for additional commercial and operating functions.
After retiring as CEO and a member of the board, Clyde will remain with the company as a non-executive advisor through Feb. 2027, to help ensure a smooth and orderly transition of his responsibilities to West. Clyde joined Murphy USA ahead of the spin-off in 2013 following a successful 20-year career at Booz & Company where he served in various roles including North American Energy Practice Leader and Dallas office Managing Partner. During his tenure as CEO, Clyde led Murphy USA’s successful value-creation strategy and oversaw expansion of the business to 27 states and more than 1,770 locations.
“Andrew Clyde is an icon in the industry and has driven unparalleled results since our spin in 2013,” said Murphy. “The board extends its sincere gratitude to Andrew for his exceptional leadership. In addition to driving growth and results for Murphy USA, Andrew has built an exceptional leadership team and positioned Mindy for a strong and seamless transition.”
