Clarence P. Cazalot, Jr. was the CEO of Marathon Oil Corporation from 2000 until his retirement in 2013. He started his career as a geophysicist with Texaco and climbed the ranks, taking on leadership roles in various divisions, including Latin...

Clarence P. Cazalot, Jr. was the CEO of Marathon Oil Corporation from 2000 until his retirement in 2013. He started his career as a geophysicist with Texaco and climbed the ranks, taking on leadership roles in various divisions, including Latin America and West Africa. Under his leadership, Marathon Oil focused on performance-driven compensation, where most of his earnings came from annual bonuses linked to company performance rather than base salary. In 2013, his total compensation reached around $23.39 million, highlighting the results of his strategic leadership. During his tenure, Marathon navigated significant market shifts, and Cazalot's experience in the energy industry helped the company adjust to these changes effectively. Notably, he served as Executive Chairman for a short period after announcing his retirement, ensuring a smooth transition for the company. Cazalot's career reflects a strong commitment to the oil and gas sector, and he was also active in several boards related to the industry after his time at Marathon. His background speaks to someone who has seen the ups and downs of the oil market and managed to steer a company towards growth and stability during challenging times.