Marathon Petroleum Corporation (NYSE: MPC), headquartered in Findlay, Ohio, is the largest petroleum refining company in the United States, with a crude oil refining capacity of approximately 3 million barrels per day across 13 refineries. Gary R. Heminger served as President, CEO, and Chairman of Marathon Petroleum from 2011 until his retirement in March 2020, capping a remarkable 45-year career at the company. Under Heminger’s leadership, Marathon Petroleum completed the transformative $23.3 billion acquisition of Andeavor in 2018, making MPC the nation’s largest refiner. He realized over $102 million in total compensation across his tenure and grew the company into a Fortune 25 powerhouse.

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Gary Heminger – Quick Facts

Marathon Petroleum Competitors

Marathon Petroleum operates in the highly competitive petroleum refining and marketing industry. The key competitors of Marathon Petroleum include:

• Valero Energy (VLO) – world’s largest independent petroleum refiner
• Phillips 66 (PSX) – diversified refining, midstream, chemicals, and renewable fuels
• ExxonMobil (XOM) – integrated oil and gas supermajor
• Chevron Corporation (CVX) – integrated energy major with global refining
• Shell plc (SHEL) – global energy and petrochemical company
• BP plc (BP) – British integrated energy company
• HF Sinclair (DINO) – independent refiner (formerly HollyFrontier)
• PBF Energy (PBF) – independent East Coast and mid-continent refiner

Gary Heminger Net Worth 2026 – Marathon Petroleum CEO Salary

As of February 2026, Gary Heminger’s net worth is estimated at approximately $140 million USD, based on his disclosed stock holdings in Marathon Petroleum, MPLX LP, Fifth Third Bancorp, and PPG Industries via SEC filings. Heminger owns approximately 567,192 shares of Marathon Petroleum (MPC) stock valued at over $115 million, along with roughly 306,469 shares of MPLX LP worth over $17 million and approximately 141,829 shares of Fifth Third Bancorp worth over $8 million.

During his nine-year tenure as Marathon Petroleum CEO (2011–2019), Gary Heminger realized over $102.6 million in total compensation. In 2017, his compensation was reported at $19.7 million — 935 times the median Marathon Petroleum employee salary — drawing significant public attention. His final-year compensation in fiscal 2020 was approximately $10 million, reflecting only ten weeks of service as CEO before his March retirement.

Gary Heminger Compensation Breakdown (FY2017)

Marathon Petroleum Net Worth 2026 – Is Marathon Petroleum Profitable?

Yes, Marathon Petroleum is highly profitable. For full-year 2025, MPC reported net income of $4.0 billion ($13.22 per diluted share), up from $3.4 billion in 2024. Adjusted EBITDA was $12.0 billion, and cash from operations reached $8.3 billion. The company returned $4.5 billion to shareholders through dividends and share buybacks. As of February 2026, Marathon Petroleum’s market capitalization stands at approximately $58–61 billion.

Marathon Petroleum Financial Summary (FY2025)

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Marathon Petroleum CEO Email Address | Gary Heminger Contact

Since Gary Heminger retired from Marathon Petroleum in March 2020, his corporate email is no longer active. He can be reached through his current board affiliations at PPG Industries, Fifth Third Bancorp, and The Ohio State University. Below are the relevant contact details:

Career & Education – Company, University, & College

Gary R. Heminger’s career is defined by an extraordinary 45-year tenure at Marathon, where he rose from an entry-level position to the top leadership of one of America’s largest energy companies. Below is his complete career timeline:

Gary Heminger Career Timeline

Heminger joined Marathon Oil Company in 1975, immediately after graduating from Tiffin University. He spent his first years in the company’s financial and administrative divisions, eventually serving as Audit Supervisor on the Brae Project in London, United Kingdom. He then moved to Emro Marketing (the predecessor of Speedway SuperAmerica LLC), where he spent approximately eight years heading marketing and commercial efforts.

In 1995, Heminger was named President of Marathon Pipe Line. He subsequently held roles in business development for Marathon Ashland Petroleum before being promoted to Executive Vice President of Supply, Transportation & Marketing for Marathon Oil Corporation in 2001. That same year, he became President of Marathon Petroleum Company LLC, and later served as EVP of Downstream for Marathon Oil Corporation.

When Marathon Petroleum was spun off as an independent public company on June 30, 2011, Heminger became its first President and CEO. In 2016, he was elected Chairman of the Board. His most significant achievement as CEO was the $23.3 billion acquisition of Andeavor in October 2018, which made Marathon Petroleum the largest petroleum refiner in the United States. He announced his retirement in October 2019, effective March 18, 2020.

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Education

Gary Heminger Wiki – Age, Wife, Family, & More

Gary R. Heminger (age approximately 72 as of 2026) resides in Findlay, Ohio with his wife, Jane Heminger, a registered nurse. Jane began her nursing career at Blanchard Valley Hospital in the coronary and intensive care units. The couple has been deeply involved in philanthropy, particularly in the areas of healthcare and education in northwest Ohio.

Notable Achievements & Recognitions

• Ohio State University Board of Trustees – Appointed in 2018; currently serves as Chair of the Athletics Committee
• Tiffin University Hall of Fame – Inducted in 2019 for distinguished career achievements
• Tiffin University Board of Trustees – Served 23 years (1991–2014), including as Board Chair (1996–2014)
• Jane E. Heminger Hall – Ohio State University College of Nursing building named in honor of the Heminger family’s naming gift
• Jane & Gary Heminger HeartCare Center – Blanchard Valley Hospital cardiovascular center named in 2012
• Jane E. Heminger Nursing Scholarship – Scholarship program supporting nursing education
• Board memberships – PPG Industries (since 2017), Fifth Third Bancorp, JobsOhio, American Petroleum Institute, American Fuel & Petrochemicals Manufacturers
• Marathon Center for the Performing Arts – Chairman of the fundraising committee alongside Jane Heminger

Heminger is widely recognized for his integrity, deep understanding of the energy business, and strong leadership. His 45-year career at Marathon — from an entry-level position to Chairman and CEO of a Fortune 25 company — is one of the most remarkable single-company ascents in American corporate history.

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About Marathon Petroleum Corporation

Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. Spun off from Marathon Oil Corporation in 2011, MPC is the largest petroleum refiner in the United States by refining capacity. The company operates through three primary business segments:

Marathon Petroleum trades on the New York Stock Exchange under the ticker symbol MPC. The company employs approximately 18,000 people. In 2021, MPC completed the sale of its Speedway convenience store chain to 7-Eleven for $21 billion, one of the largest deals in the convenience-store industry. As of January 1, 2026, Maryann T. Mannen serves as President, CEO, and Chairman of the Board.

Frequently Asked Questions (FAQ)

Who is the current CEO of Marathon Petroleum?

As of January 1, 2026, Maryann T. Mannen serves as President, CEO, and Chairman of the Board of Marathon Petroleum Corporation. Gary R. Heminger retired as CEO in March 2020. He was succeeded by Michael J. Hennigan, who served as CEO from March 2020 to August 2024 before transitioning to Executive Chairman. Mannen took over as CEO in August 2024 and was elected Chairman effective January 1, 2026.

What is Gary Heminger’s net worth in 2026?

As of February 2026, Gary Heminger’s estimated net worth is approximately $140 million USD, based on his disclosed holdings. He owns roughly 567,192 shares of Marathon Petroleum (MPC), 306,469 shares of MPLX LP, and 141,829 shares of Fifth Third Bancorp, per SEC insider filings.

What was Gary Heminger’s salary as Marathon Petroleum CEO?

Gary Heminger’s total compensation in his peak year (FY2017) was approximately $19.7 million, including a $1.64 million base salary, $7.7 million in stock awards, $3.8 million in stock options, and $4.1 million in annual bonus. Over his full CEO tenure (2011–2019), he realized over $102.6 million in total compensation.

Why did Gary Heminger retire from Marathon Petroleum?

Gary Heminger announced his retirement in October 2019 after 45 years with the company, citing a desire to pursue personal interests. The decision came amid pressure from activist investor Elliott Management, which had pushed for strategic changes at Marathon Petroleum. Heminger officially retired on March 18, 2020.

What is Marathon Petroleum’s revenue?

Marathon Petroleum reported $132.7 billion in total revenue for full-year 2025. Net income attributable to MPC was $4.0 billion ($13.22 per diluted share), and adjusted EBITDA was $12.0 billion. The company’s refining system operated at 94% utilization with a margin capture of 105%.

What does Gary Heminger do now?

Since retiring from Marathon Petroleum in 2020, Gary Heminger has remained active in governance and philanthropy. He serves as a Director on the boards of PPG Industries (NYSE: PPG) and Fifth Third Bancorp (NASDAQ: FITB), and is a member of the Ohio State University Board of Trustees, where he chairs the Athletics Committee. He and his wife Jane continue their philanthropic work in healthcare and education in Ohio.

Article last updated:January 2026March 2, 2026