Murphy Oil Corp. (NYSE: MUR) said Feb. 12 that John W. Eckart, executive vice president and CFO, has informed the company of his intention to retire during 2018, after nearly 28 years of service.

Currently, the El Dorado, Ark.-based company has a search process underway to identify Eckart’s successor. Eckart is expected to serve in his current role until such time as a successor is named and otherwise assist in the transition, according to the Murphy press release.

Eckart joined Murphy in 1990 as auditing manager taking on roles with increasing responsibility, culminating in being named to his current role in 2015. As a member of the company’s executive leadership team, he led the growth and modernization of Murphy’s finance and accounting functions and serves on the company’s pension investment, employee benefits and risk committees. He is widely recognized for his commitment to Murphy and the success of the company, the release said.

“On behalf of the company, I want to thank John for his many years of service and wish him all the best in retirement. John has provided sound strategic advice and guidance in managing the financial affairs of the company, and his contributions will be greatly missed," Roger Jenkins, president and CEO of Murphy, said in a statement.

“While I am looking forward to enjoying the next chapter of my life,” Eckart said in a statement, “I am enthusiastic for Murphy as it enters this year with a solid portfolio of assets and robust business opportunities, a strong leadership team and outstanding, committed people. Over the course of my career, I have been provided many opportunities and have met wonderful people around the world. I will be leaving behind a great company.”

Murphy’s portfolio includes offshore production in Southeast Asia, Canada and the Gulf of Mexico as well as North America onshore plays in the Eagle Ford Shale, Kaybob Duvernay and Montney.