Andrew Clyde is the CEO of Murphy USA, which is a corporation that operates gas stations as well as convenience stores throughout the United States. He has been the head of the corporation ever since it became independent, meaning that he has had a huge impact on how it has turned out. Here are 10 things that you may or may not have known about Andrew Clyde:
1. Grew Up in El Dorado, AR
Clyde was born in Chicago. However, he was raised in El Dorado, AR, which is now home to Murphy Oil, Murphy USA, and other institutions of importance. As such, it is no exaggeration to say that El Dorado, AR is a business as well as a cultural center for the surrounding region.
2. Learned Customer Service Because of His Grandfather
On his breaks, Clyde would spend time with his grandfather, who had started up a commercial fuels business that was meant to help small customers in the region. By traveling with his grandfather while calling on customers, Clyde learned much about customer service that has proven useful for his career of choice ever since.
3. Learned the Importance of Value From His Grandfather
Speaking of which, Clyde learned the importance of value from his grandfather. In short, what his grandfather stressed was that middlemen needed to provide their customers with some kind of value for them to be able to continue running. In the case of his grandfather’s business, that value was the ability for customers to contact his grandfather 24/7. In other words, it was a measure of responsiveness that bigger businesses couldn’t hope to match.
4. Majored in Business Administration and Minored in Geology
When he was at Southern Methodist University, Clyde majored in business administration and minored in geology. The latter choice is unsurprising because Clyde learned a lot about oil and gas through his grandfather, which was in addition to what he learned by growing up in a place centered on oil and gas.
5. Has a MBA
Clyde spent some time with Arthur Anderson but went on to get involved with consulting for the energy industry via Booz and Co. There, he managed to find the time to complete a MBA degree from the Kellogg School of Business situated at Northwestern University in Chicago, which enabled him to rise further in said corporation.
6. Became Involved with Murphy Oil through Booz and Co.
In time, Clyde became the head of Booz’s energy, chemicals, and utilities operations in North America. As a result, he became acquainted with a wide range of companies in a wide range of countries through his work, which included Murphy Oil.
7. Played an Important Role in Spinning Off Murphy USA
Clyde wasn’t the sole factor behind Murphy Oil’s choice to spin off Murphy USA. For instance, there was a fair amount of shareholder pressure for the corporation to spin off its downstream operations in preference for focusing on oil and gas exploration as well as oil and gas production. Still, Clyde played a pivotal role, which is how he winded up becoming the man in charge when Murphy USA became independent in 2013.
8. Oversaw the Change of Relationship with Wal-Mart
Murphy USA had a close relationship with Wal-Mart for some time. However, that came to a close in the first quarter of 2016, which was when Wal-Mart made the choice to reject a Murphy USA proposal to build even more Murphy USA gas stations at the rest of Wal-Mart’s Supercenters. The two stated that they would continue to collaborate at existing sites, but for obvious reasons, there was huge concern on the part of investors.
9. Wasn’t Caught Unprepared
It should be mentioned that Clyde and the rest of Murphy USA’s leadership wasn’t caught flat-footed because the rejection was a potential outcome that they had done some planning for. As a result, they were able to hold a meeting to soothe investor fears within a short period of time before moving forward with their plans.
10. Focused On Own Convenience Stores
In short, Murphy USA revealed that it would be moving forward with its own convenience stores, which would be bigger format than its gas stations. As such, there was a fair amount of interest at the time in whether this would result in competition between Wal-Mart and Murphy USA in spite of their imperfect overlap.