BP has confirmed the appointment of Meg O’Neill as its next chief executive officer, effective 1 April 2026. The board-approved transition follows the decision by current CEO Murray Auchincloss to step down, marking a major leadership shift at the energy group.
Board Confirms Planned Leadership Change
BP announced that Murray Auchincloss will step down as chief executive officer and board director on 18 December. He will remain with the company in an advisory capacity until December 2026 to support continuity during the transition period.
Murray Auchincloss steps down as BP CEO, remaining in an advisory role until December 2026
The board has appointed Carol Howle, BP’s executive vice president for supply, trading and shipping, as interim CEO. Howle will oversee day-to-day operations until O’Neill formally assumes the role in April 2026.
BP stated that the transition followed a structured succession planning process. The board worked with an independent recruitment firm through a dedicated search committee to complete the appointment.
Meg O’Neill’s Background and Industry Experience
Meg O’Neill currently serves as chief executive officer of Woodside Energy, a role she has held since 2021. During her tenure, Woodside became the largest energy company listed on the Australian Securities Exchange.
She led the acquisition of BHP Petroleum International, expanding Woodside’s global footprint and asset base. The deal created a geographically diverse portfolio of oil and gas operations across multiple regions.
Before joining Woodside in 2018, O’Neill spent 23 years at ExxonMobil. Her career included senior technical, operational and leadership roles across several continents.
BP Chair Outlines Strategic Direction
BP chair Albert Manifold said the board viewed O’Neill as the right leader for the company’s next phase. He cited her experience in capital discipline, operational delivery and business improvement.
Manifold said the board believes the leadership change supports BP’s aim to become simpler, leaner and more profitable. He added that stronger execution would be required to reach shareholder expectations.
The chair also acknowledged progress made in recent years while noting the need for tighter management focus. According to the board, the transition creates momentum for strategic execution.
Interim Leadership and Continuity Measures
Carol Howle will lead BP as interim CEO during the transition period. She has spent more than 25 years at BP across trading, shipping and supply operations.
Carol Howle will serve as BP’s interim CEO until Meg O’Neill assumes the role in April 2026
BP said Howle’s familiarity with the company’s systems and culture would ensure continuity. Her appointment is intended to maintain stability while preparations continue for O’Neill’s arrival.
Auchincloss, who became CEO in 2024, expressed support for the succession decision. He said the timing was appropriate following discussions with the board chair.
Market Context and External Reaction
The leadership announcement was shared publicly through BP’s official social media channels. In a post on X, the company confirmed O’Neill’s appointment and outlined the interim leadership plan.
Meg O’Neill has been appointed as bp’s next CEO, effective April next year.
Murray Auchincloss has decided to step down as CEO and will serve in an advisory role until December 2026 to ensure a smooth transition.
Carol Howle, currently bp’s EVP supply, trading & shipping, will… pic.twitter.com/pMMx3y6pso
— bp (@bp_plc) December 17, 2025
Reuters reported that O’Neill will become BP’s first externally appointed CEO in its history. She will also be the first woman to lead any of the world’s five largest oil companies.
The report noted BP’s recent strategy shift toward oil and gas operations. The company has reduced planned renewable investments and committed to asset sales and cost reductions.
Woodside Exit and Governance Process
Woodside Energy confirmed that O’Neill departed the company immediately following the announcement. It appointed Liz Westcott as acting CEO while a permanent successor is sought.
BP stated that the appointment complied with UK Listing Rules disclosure requirements. The company confirmed no additional information was required beyond the announcement.
The release was authorised by BP company secretary Ben Mathews. The board said the process reflected long-term governance planning rather than a reactive decision.
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Outlook Ahead of April Transition
O’Neill said she looked forward to working with BP’s leadership and workforce worldwide. She described BP as having strong assets and potential for renewed market leadership.
BP reiterated that the transition is designed to support operational focus and financial performance. The company said further updates would be provided closer to the April 2026 start date.
Until then, BP will continue under interim leadership, with advisory support from Auchincloss. The board stated that the structure ensures stability during the extended handover period.
FAQs
- Who has been appointed as BP’s next CEO?
Meg O’Neill, currently CEO of Woodside Energy, has been appointed as BP’s next chief executive officer, effective April 1, 2026.
- When will Meg O’Neill officially take over as BP CEO?
Meg O’Neill will assume the role of CEO at BP on 1 April 2026.
- Who is leading BP in the interim before O’Neill starts?
Carol Howle, BP’s executive vice president for supply, trading and shipping, will serve as interim CEO until O’Neill’s start date.
- What happens to the current BP CEO, Murray Auchincloss?
Murray Auchincloss has stepped down as CEO and board director as of 18 December 2025. He will remain with the company in an advisory role until December 2026.
- Why was Meg O’Neill chosen as BP’s next CEO?
BP’s Chair, Albert Manifold, cited O’Neill’s “proven track record of driving transformation, growth, and disciplined capital allocation” as key reasons for her selection.
- What experience does Meg O’Neill bring to BP?
O’Neill has been CEO of Woodside Energy since 2021, where she oversaw the company’s growth into Australia’s largest energy company and led the acquisition of BHP Petroleum International. She also spent 23 years with ExxonMobil in various operational and leadership roles.
- Will Meg O’Neill be the first female CEO of BP?
Yes. O’Neill will be the first female CEO of BP and the first woman to lead one of the world’s top five oil majors when she takes over.
- How was the CEO succession process handled?
BP’s board conducted a comprehensive succession planning process, involving a board committee and an independent recruitment firm to identify and appoint the next CEO.
- Who will lead Woodside Energy after O’Neill’s departure?
Woodside Energy has named Liz Westcott as acting CEO after O’Neill’s resignation to join BP.
- What roles did O’Neill hold before becoming Woodside CEO?
Before Woodside, O’Neill spent over two decades at ExxonMobil in technical, operational and leadership roles across multiple regions.
