London, United Kingdom, December 19, 2025
BP has appointed Meg O’Neill, the current CEO of Woodside Energy, as its new CEO effective April 1, 2026. This significant move marks the first time a woman will lead one of the top-five oil majors, highlighting a pivotal shift in the energy sector’s leadership landscape. Following the departure of Murray Auchincloss, O’Neill’s leadership is expected to guide BP through a strategic refocus on traditional oil and gas operations, amid plans to divest $20 billion in assets by 2027.
London, United Kingdom
BP Appoints Meg O’Neill as New CEO Following Murray Auchincloss’s Departure
BP has announced the appointment of Meg O’Neill, currently CEO of Australia’s Woodside Energy, as its new Chief Executive Officer, effective April 1, 2026. This marks a pivotal moment for the company and the energy sector as O’Neill becomes the first woman to lead a top-five oil major after more than a century of internal appointments. Her selection comes on the heels of Murray Auchincloss’s unexpected exit, who had served as CEO since 2024 and will transition to an advisory role until December 2026. In the interim, Carol Howle, BP’s Executive Vice President for Supply, Trading & Shipping, will take over leadership responsibilities.
Meg O’Neill’s impressive track record at Woodside Energy is expected to guide BP during its strategic pivot back to traditional oil and gas operations. While her appointment showcases a commitment to diversity in leadership, it also reflects the growing demand for strong, innovative leadership in a challenging market landscape. BP plans to divest $20 billion in assets by 2027, a decision influenced by shareholder pressure and the need to enhance profitability.
O’Neill’s Leadership at Woodside Energy
During her tenure at Woodside Energy, O’Neill effectively orchestrated a significant merger with BHP’s petroleum unit, dramatically improving production capabilities and positioning Woodside among the top ten independent energy companies worldwide. She emphasized strategic investments and pragmatic management, focusing on pivotal gas projects, such as the Trion development in Mexico and a $17.5 billion liquefied natural gas (LNG) project in Louisiana. Her proven record of success in managing large-scale operations will be crucial as BP seeks to enhance its competitiveness in the energy sector.
BP’s Strategic Shift and Leadership Change
O’Neill’s appointment aligns with BP’s strategic shift back to its roots in oil and gas. The company’s decision to divest significant assets stems from its commitment to reducing debt while boosting profit margins, a change driven largely by pressures from major shareholders, notably Elliott Investment Management. This pivot comes at a time when the energy market is navigating numerous challenges, making strong leadership more essential than ever.
Market Reactions
Following the announcement of O’Neill’s appointment, market responses were mixed. BP’s shares increased modestly, indicating some investor confidence in the strategic direction and leadership transition, while shares of Woodside Energy fell by nearly 3%, reflecting market concerns over this leadership change. Investors are acutely aware of how leadership and strategic adjustments can ripple through the industry, affecting stock performance and investor sentiment.
Background on BP’s Recent Leadership Transitions
BP has navigated a wave of leadership changes over the past few years, from the appointment of Murray Auchincloss in January 2024 to the recent selection of Meg O’Neill. Auchincloss’s tenure was marked by a shift towards traditional oil and gas operations, moving away from the company’s previous investments in renewable energy sources. This recent trend highlights a growing acceptance of traditional energy solutions amid fluctuating market conditions.
About Meg O’Neill
Meg O’Neill, 55, hails from Boulder, Colorado, and has a rich professional background. Before her role at Woodside Energy, she dedicated 23 years to ExxonMobil in various technical, operational, and leadership capacities. Her selection as CEO of BP not only signifies a breakthrough for women in leadership within a historically male-dominated industry but also underscores the importance of experience and strategic vision in navigating the complex energy market.
BP’s Stock Performance
As of December 19, 2025, BP’s stock is trading at $33.31 USD, reflecting a slight decline of 0.0338% from the previous close. The stock has shown fluctuations recently, influenced by BP’s strategic shifts and the broader dynamics within the energy market.
Conclusion
The appointment of Meg O’Neill as BP’s new CEO represents an important step not only for the company but for the energy industry as a whole, emphasizing the growing role of women in leadership positions. As BP navigates a return to traditional operations and divests significant assets, O’Neill’s leadership will be vital for revitalizing investor confidence and strengthening the company’s market position. New York entrepreneurs and investors will undoubtedly be keen to monitor how these developments unfold and consider their potential implications for local economic growth. Supporting local businesses and the broader economic community is essential to fostering innovation and resilience.
FAQ
- Who is Meg O’Neill?
- Meg O’Neill is the current CEO of Woodside Energy and has been appointed as BP’s new CEO, effective April 1, 2026. She has a background in ExxonMobil and has led significant mergers in the energy sector.
- What is BP’s recent strategic shift?
- BP has shifted its focus back to traditional oil and gas operations, moving away from previous renewable energy initiatives. The company plans to divest $20 billion in assets by 2027 to reduce debt and boost profitability.
- How has the market reacted to BP’s leadership change?
- Following the announcement, BP’s shares rose modestly, while Woodside’s shares dropped nearly 3%. The leadership change is seen as a move to strengthen BP’s position in the energy sector amid ongoing market challenges.
- What is the background of BP’s recent leadership transitions?
- BP has experienced significant leadership changes in recent years. Murray Auchincloss was appointed CEO in January 2024, following a comprehensive search process. His tenure included a strategic shift towards traditional oil and gas operations, moving away from previous renewable energy initiatives.
- What is Meg O’Neill’s professional background?
- Meg O’Neill, 55, is an American executive from Boulder, Colorado. Before joining Woodside Energy in 2018, she spent 23 years at ExxonMobil in various technical, operational, and leadership roles. Her appointment as BP’s CEO marks a significant milestone as she becomes the first woman to lead a top-five oil major.
| Feature | Details |
|---|---|
| New CEO Appointment | Meg O’Neill appointed as BP’s CEO, effective April 1, 2026 |
| Leadership Change | Murray Auchincloss steps down; Carol Howle serves as interim CEO |
| Strategic Shift | BP refocuses on traditional oil and gas operations, divesting $20 billion in assets by 2027 |
| Market Reaction | BP’s shares rise modestly; Woodside’s shares drop nearly 3% |
| CEO Background | Meg O’Neill, 55, from Boulder, Colorado; 23 years at ExxonMobil; led significant mergers at Woodside Energy |
| BP’s Stock Performance | As of December 19, 2025, BP’s stock is trading at $33.31 USD, reflecting a slight decrease of 0.0338% from the previous close |
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