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yesterday

BP Taps Meg O’Neill as CEO, a First for Big Oil

The board signals a sharper push for profits with an oil-and-gas focus under new chair Albert Manifold.

Meg O’Neill, chief executive officer (CEO) of Woodside Energy, poses for a portrait after delivering their half-year report in Sydney, Australia, August 19, 2025. REUTERS/Hollie Adams/File Photo
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Overview

  • BP said O’Neill will take over on April 1, 2026, with Carol Howle serving as interim chief executive and Murray Auchincloss staying on as an adviser through 2026.
  • Meg O’Neill, Woodside’s chief since 2021 and a 23‑year ExxonMobil veteran, led the BHP Petroleum merger and U.S. LNG expansion; Woodside named Liz Westcott acting CEO.
  • O’Neill becomes the first woman to lead BP and any of the world’s top five oil companies, and the first external chief executive in BP’s modern history.
  • The board described the hire as the outcome of a succession process intended to accelerate a simpler, leaner, more profitable strategy that includes cost discipline and planned asset sales of about $20 billion by 2027.
  • The leadership change follows sustained shareholder pressure, including from Elliott Investment Management, and has renewed market speculation about potential M&A options, with reports noting prior U.K. bid restrictions on Shell expire on Dec. 26.