BP has announced the appointment of Meg O’Neill as its new Chief Executive Officer, effective 1 April 2026, making her the first woman to lead a major global oil company.
The appointment follows the resignation of Murray Auchincloss from his position as CEO and as a director of the Board, effective Thursday, 18 December.
Ms O’Neill, who currently serves as Chief Executive Officer of Australian oil and gas firm Woodside Energy, is expected to continue BP’s recent strategic shift away from renewables, refocusing the company on its core oil and gas business.
Commenting on her appointment, Ms O’Neill said she looks forward to helping BP “do our part to meet the world’s energy needs.”
“BP plays a critical role in delivering energy to customers around the world. I am honoured to serve as the company’s next CEO. With an extraordinary portfolio of assets, BP has significant potential to re-establish market leadership and grow shareholder value. I look forward to working with the BP leadership team and colleagues worldwide to accelerate performance, advance safety, drive innovation and sustainability, and do our part to meet the world’s energy needs,” Ms O’Neill said.
BP also announced that Carol Howle, current Executive Vice President, Supply, Trading and Shipping, will serve as interim CEO until Ms O’Neill formally assumes office.
Mr Auchincloss will remain in an advisory role until December 2026 to ensure a smooth leadership transition.
Since her appointment as CEO of Woodside Energy in 2021, Ms O’Neill has overseen the company’s growth into the largest energy firm listed on the Australian Securities Exchange. Among her notable achievements, she led the transformative acquisition of BHP Petroleum International, creating a geographically diversified business with a portfolio of high-quality oil and gas assets.
Before joining Woodside Energy in 2018, Ms O’Neill spent 23 years at ExxonMobil, holding a range of technical, operational and senior leadership roles across multiple regions.
Albert Manifold, Chair of BP, welcomed the appointment, describing Ms O’Neill as the right leader for the company’s next phase.
“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. Her relentless focus on business improvement and financial discipline gives us high confidence in her ability to shape this great company for its next phase of growth and pursue significant strategic and financial opportunities,” Mr Manifold said.
He added that the Board believes the leadership transition presents an opportunity to accelerate BP’s strategic vision.
“Following a comprehensive succession planning process, the Board believes this transition creates an opportunity to accelerate our strategic vision to become a simpler, leaner and more profitable company. While progress has been made in recent years, increased rigour and diligence are required to deliver the transformative changes needed to maximise shareholder value.”
In his remarks, Mr Auchincloss said the timing was right to hand over leadership.
“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 if an appropriate leader was identified who could accelerate delivery of BP’s strategy. I am confident BP is well positioned for significant growth, and I look forward to watching the company’s future progress and success under Meg’s leadership.”
Mr Manifold also paid tribute to Mr Auchincloss’s tenure.
“On behalf of the Board, I want to thank Murray for his many contributions to BP and for his commitment to our people and our business. We wish him every success in his next chapter.”
He further acknowledged Ms Howle’s interim role, noting that her 25 years at BP provide deep institutional knowledge and will ensure strategic continuity until Ms O’Neill takes office.
The appointment of Ms O’Neill follows a global search process overseen by a Board search committee and supported by an independent recruitment firm, as part of BP’s long-term succession planning.
Discover more from Energy News Africa
Subscribe to get the latest posts sent to your email.