Menu Search GOVERNANCE OVERVIEW GOOD GOVERNANCE, GOOD STEWARDSHIP At Marathon Oil, operating responsibly means effectively managing and mitigating environmental, safety, security, operational, social, reputational and other risks. We prioritize best-in-class corporate governance, including a robust risk management system, as well as processes and foundational principles that govern the way we do business every day. We believe it’s our obligation to operate with ethics and integrity and to promote open and transparent communication. Strong leadership and governance are critical to good stewardship. The Marathon Oil board of directors oversees our business and assesses risk to ensure high levels of environmental, social and governance (ESG) performance for the benefit of our stakeholders. Our Corporate Governance Principles describe the roles, responsibilities and functions of the board. Detailed information about the selection, election, independence, diversity, committees, evaluation, risk management responsibilities and compensation of our board is available in our 2021 Proxy Statement. DIVE DEEPER Board Oversight Sustainability Oversight Management Systems Ethical Business Practices Performance Highlights In early 2021, we elected two new independent directors, Holli Ladhani and Brent Smolik, to the company’s board of directors, adding valuable strategic perspectives and diversity. Following the 2021 Annual Meeting of Stockholders, Marcela Donadio was named as independent lead director. As of the 2021 Annual Meeting, of our eight directors, seven are independent, three are female and two self-identify as an ethnicity other than Caucasian/White. In early 2021, Marathon Oil reduced annual board and total CEO compensation by 25%, including a 35% reduction to CEO long-term incentive (LTI) awards, with all LTI awards denominated in shares. We’ve also modified our executive compensation framework to further align management interests with stakeholders’ interests and to incentivize the behaviors we believe are most important. We implemented an overarching Cybersecurity Policy to strengthen information governance and more clearly define our approach to information security and use. CLIMATE CHANGE How We’re Managing Climate-related Risks We’re mitigating physical and transition risks, engaging with stakeholders and focusing our workforce on improving performance to mitigate climate-related risks. WORKFORCE Empowering Our Employees to Create Value Respectful relationships are core to our culture, which encourages employees to collaborate, take ownership, act boldly and deliver results. GOVERNANCE Operating with Ethics and Integrity We reinforce our commitment to ethical business practices with our Code of Business Conduct. ENVIRONMENT Stewards of the Air, Water, Land and Wildlife Protecting the environment is about more than just complying with regulations. We strive to be a valued member of the communities where we work. How are we doing? Your opinion matters. Please take a moment to let us know how useful you find the content on this page. If you’d like to give us your feedback on the entire report, please fill out the complete survey for the 2020 report. COMPLETE SURVEY Operations Investors Owner Relations Careers Sustainability About Marathon Oil ©2020 MARATHON OIL COMPANYPRIVACYTERMSFLS DISCLAIMEREMPLOYEE LOGINRETIREES