Embattled BP replaces CEO, naming Woodside Energy chief as first-ever woman leader of a Big Oil giant

Group 1: CEO Transition - BP appointed Meg O'Neill as the first female CEO of a major oil company, effective April 1, 2024, following the resignation of Murray Auchincloss [1][4] - Auchincloss will remain in an advisory role until the end of 2026 after leading a cost-cutting initiative and a shift back to fossil fuels [2][3] Group 2: Strategic Direction - The board believes the leadership change will accelerate BP's strategic vision to become a simpler, leaner, and more profitable company, indicating that previous efforts under Auchincloss were insufficient [5] - O'Neill is recognized for her proven track record in driving transformation and disciplined capital allocation, which the board believes will be crucial for BP's next growth phase [6]