BP Names Meg O’Neill as CEO in Leadership Shake-Up

Leadership Transition - BP plc has announced the appointment of Meg O'Neill as the next CEO, effective April 1, 2026, to enhance strategic and financial performance under new leadership [1] - O'Neill is currently the CEO of Woodside Energy and will succeed Murray Auchincloss, who is stepping down on December 18, with Carol Howle serving as interim CEO until O'Neill takes over [2] Strategic Context - The leadership change comes at a critical time for BP, which faces pressure from investors to simplify its portfolio, improve capital discipline, and deliver stronger shareholder returns amid volatile oil markets and competition [3] - BP Chair Albert Manifold highlighted O'Neill's track record in transformation and operational execution as key reasons for her selection, emphasizing the need for further rigor to unlock value and reposition BP as a more profitable energy major [4] O'Neill's Background - O'Neill has led Woodside since 2021, overseeing its growth into the largest energy company on the Australian Securities Exchange, including the acquisition of BHP Petroleum, which expanded its global footprint [5] - Prior to her role at Woodside, O'Neill spent over two decades at ExxonMobil in various senior roles across multiple continents [5] Future Focus - In her initial comments, O'Neill emphasized BP's global role in energy supply and her intention to focus on performance acceleration, safety, innovation, and sustainability to meet global energy demand [6] - The leadership change aligns with BP's ongoing strategy refinement following mixed execution on energy transition ambitions, with a recent emphasis on cash flow, dividends, and buybacks [7]