Lucio A. Noto has been nominated to...

Lucio A. Noto has been nominated to replace Allen E. Murray as president and chief operating officer of Mobil Corp. Noto is now chief financial officer of the Fairfax, Va.-based oil company.

Noto’s appointment as president and chief operating officer is scheduled to take place March 1, subject to approval by the board.

Analysts described Noto’s appointment to the company’s No. 2 post as the first step of an orderly succession to replace Murray, who will remain chairman and chief executive. Murray faces mandatory retirement when he turns 65 in March, 1994.