Woodside Energy Group (ASX: WDS) has announced a major leadership transition as CEO and Managing Director Meg O’Neill resigns to take the helm at BP p.l.c. The Woodside Energy CEO succession comes as the Company appoints Liz Westcott as Acting CEO, effective 18 December 2025. This Woodside Energy Group CEO change marks a pivotal moment for Australia’s largest energy producer, which has delivered approximately AUD 11 billion in dividends since 2022.
Figure 1: Meg O’Neill, outgoing Chief Executive Officer of Woodside Energy
The Board’s swift appointment of Ms Westcott provides continuity during this transition. She brings deep operational expertise from her role as Executive Vice President and Chief Operating Officer of Australia. The Woodside Energy leadership transition reflects the Company’s robust succession planning and commitment to maintaining strategic momentum.
Who Is Leading Woodside Energy After Meg O’Neill’s Departure?
Liz Westcott steps into the Acting CEO role following her tenure leading Woodside’s Australian Operations since June 2023. Her appointment during the Woodside Energy leadership transition ensures stability as the Company executes major projects and maintains operational excellence. Ms Westcott previously served as Chief Operating Officer at Energy Australia after a 25-year career at ExxonMobil across Australia, the United Kingdom and Italy.
Her experience spans strategic planning, operations, project management, and safety leadership. The Board views her operational expertise as critical for navigating Woodside’s current growth phase. Ms Westcott will receive an annual salary of AUD 1.803 million, including a higher duties allowance of AUD 600,000 gross per annum.
Figure 2: Liz Westcott, Acting Chief Executive Officer of Woodside Energy
The Woodside Energy CEO succession plan includes assessing both internal and external candidates for the permanent role. Chair Richard Goyder stated the Board intends to announce a permanent appointment in the first quarter of 2026.
Liz Westcott brings 25 years of global energy experience to Woodside’s Acting CEO role.
What Did Meg O’Neill Achieve During Her Woodside Energy Leadership?
Meg O’Neill’s tenure as CEO since 2021 positioned Woodside for transformational growth. Under her leadership, the Company completed the merger with BHP Petroleum, which significantly expanded Woodside’s asset portfolio. She steered final investment decisions on the Scarborough Energy Project and the Louisiana LNG Project.
Key achievements include the startup of the Sangomar Project and the Beaumont New Ammonia acquisition. Ms O’Neill also introduced high-quality partners across multiple projects whilst maintaining strong operational performance. The Board credited her with delivering approximately AUD 11 billion in dividends to shareholders since 2022.
Chair Richard Goyder thanked Ms O’Neill for her significant contributions. He noted she leaves the Company in a strong position with a clear growth trajectory expected to deliver substantial shareholder value.
How Will the Woodside Energy Leadership Transition Impact Operations?
The Woodside Energy Group CEO change will not alter the Company’s strategic direction established at the November 2025 Capital Markets Day. Ms Westcott will focus on safe and efficient operations whilst executing major projects. The Board emphasised maintaining unwavering focus on the strategic course already outlined.
Figure 3: Exterior view of Woodside Energy’s corporate headquarters
Woodside’s priorities for 2026 remain clear under the new Acting CEO. The Executive Leadership Team will continue disciplined decision-making and operational excellence. The Company aims to deliver shareholder value through its existing project pipeline and operational portfolio.
The continuity provided by Ms Westcott’s appointment minimises disruption during this transition period. Her deep understanding of Woodside’s Australian operations positions her well to lead the business. The Board’s succession planning ensures the Company maintains momentum through this leadership change.
What Are Meg O’Neill’s Departure Terms from Woodside Energy?
Ms O’Neill will continue receiving benefits according to her contract until her gardening leave ends on 30 March 2026. She will not be eligible for any incentive for FY2025. All unvested performance rights and restricted shares for prior years will lapse.
The Woodside Energy Group CEO change arrangements reflect standard executive transition protocols. Ms O’Neill’s acceptance of the BP CEO role represents a significant career progression. Her move to one of the world’s largest energy companies underscores her industry standing.
The Board congratulated Ms O’Neill on her appointment as BP Chief Executive Officer. Her transition marks a notable shift in global energy leadership dynamics.
Woodside Energy CEO Succession: Market and Industry Context
The Woodside Energy leadership transition occurs as Australia’s energy sector navigates complex global dynamics. The Company maintains a strong market capitalisation of AUD 44.52 billion, reflecting investor confidence. Woodside’s operational portfolio spans liquefied natural gas, oil, and emerging energy projects across multiple continents.
The energy industry faces evolving challenges, including energy transition pressures and project execution complexity. Woodside’s ability to maintain operational excellence during leadership change will be closely watched. The Company’s November 2025 Capital Markets Day outlined clear strategic priorities that provide a roadmap for the incoming permanent CEO.
Industry observers note Woodside’s robust succession planning demonstrates corporate governance strength. The swift appointment of an experienced Acting CEO minimises uncertainty for stakeholders and partners.
Woodside Energy Share Price Performance
Woodside Energy Group shares last traded at AUD 22.805 per share. The stock has traded within a 52-week range of AUD 18.610 to AUD 27.300 per share. The Company’s market capitalisation stands at AUD 44.52 billion, positioning it as a major player in global energy markets.
Figure 4: Woodside Energy share price performance over the past three months
Investor reaction to the Woodside Energy CEO succession announcement will provide insights into market confidence. The leadership transition comes at a critical juncture as the Company executes multiple major projects. Share price movements in the coming weeks may reflect sentiment around operational continuity and strategic direction.
Investor Outlook and Leadership Stability
The Woodside Energy Group CEO change introduces a transition period, but the Company’s strategic foundation remains intact. Investors should monitor the permanent CEO appointment process expected in the first quarter of 2026. The Board’s assessment of both internal and external candidates suggests a thorough selection process.
Woodside’s dividend track record of approximately AUD 11 billion since 2022 provides income investors with confidence. The Company’s project pipeline, including Scarborough, Louisiana LNG, and Sangomar, represents substantial growth potential. Operational execution under Ms Westcott’s leadership will be critical during this interim period.
The Woodside Energy leadership transition reflects normal corporate succession dynamics rather than strategic distress. The Company’s strong balance sheet and diversified asset base provide stability through the leadership change.
FAQs
Q1. Who is the new Acting CEO of Woodside Energy Group?
Ans. With the Woodside Energy Group CEO change, Liz Westcott has been appointed as Acting CEO, effective 18 December 2025. She previously served as Executive Vice President and Chief Operating Officer of Australia.
Q2. Why did Meg O’Neill resign from Woodside Energy?
Ans. Meg O’Neill resigned to accept the role of Chief Executive Officer at BP p.l.c., marking a significant career progression to one of the world’s largest energy companies.
Q3. When will Woodside Energy announce a permanent CEO?
Ans. The Board intends to announce a permanent CEO appointment in the first quarter of 2026 following assessment of internal and external candidates.
Q4. What is Liz Westcott’s salary as Acting CEO?
Ans. Liz Westcott will receive an annual salary of AUD 1.803 million, including a higher duties allowance of AUD 600,000 gross per annum.
