BP names Woodside boss Meg O'Neill as CEO as Auchincloss steps down
BP PLC on Wednesday said Chief Executive Murray Auchincloss will step down on Thursday and be replaced by Woodside Energy Group Ltd boss Meg O’Neill.
The London-based oil major said Carol Howle, current executive vice president, supply, trading & shipping of BP, will serve as interim CEO until O’Neil joins on April 1, 2026.
Auchincloss will serve in an advisory role until December 2026 to ensure a smooth transition.
O’Neill has been CEO of Woodside Energy since 2021, where she oversaw the acquisition of BHP Petroleum International.
Before joining Woodside Energy in 2018, she spent 23 years at Exxon Mobil Corp in technical, operational and leadership positions around the world.
‘We are delighted to welcome Meg O‘Neill to the bp team. Her proven track record of driving transformation, growth, and disciplined capital allocation makes her the right leader for bp,’ said BP Chair Albert Manifold.
Manifold said the move followed a comprehensive succession planning process and the transition ‘creates an opportunity to accelerate our strategic vision to become a simpler, leaner, and more profitable company.’
‘Progress has been made in recent years, but increased rigor and diligence are required to make the necessary transformative changes to maximise value for our shareholders.’
Outgoing CEO Auchincloss said: ‘After more than three decades with bp, now is the right time to hand the reins to a new leader.’
‘When Albert became chair, I expressed my openness to step down were an appropriate leader identified who could accelerate delivery of bp’s strategy,’ he added.
Auchincloss was appointed BP’s permanent CEO in January 2024, taking over from his role as interim CEO, a position he held since Bernard Looney’s departure in September 2023.
Shares in BP closed up 0.7% at 425.55 pence each in London on Wednesday. Woodside Energy was flat at A$23.42 on Wednesday.
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