Hess Shutting Down Gas Stations

Following criticism from a major stockholder, Hess announced plans to shut down its retail locations, which span from New Hampshire to Florida, on Monday, the Associated Press reports.

Instead, the New York-based company will channel its efforts into exploration and production, the news outlet reports. The hedge fund Elliott Management, which owns 4 percent of Hess, accused the company's board of "poor oversight" and said it was responsible for "decades of failure."

Hess shares fell drastically after the 2008 economic collapse, but stock started rebounding last summer, according to the Associated Press.

It's unclear how soon the closures will occur.

The Towson area's sole Hess location on East Joppa Road has been at the center of two high profile local stories.

In 2010, the gas station was the site of a contract killing plot that resulted in the then-owner's murder. The man's wife arranged the $9,000 hit, Baltimore County police said.

More recently, in 2012, sixteen residences in Loch Raven Village were slated for demolition after contamination from the same gas station. A Hess lawyer confirmed the existence of a settlement with the affected homeowners.