BP plc announced its board has appointed Meg O’Neill as the company’s next chief executive officer, effective April 1, 2026.
Current CEO Murray Auchincloss will step down from his role as CEO and as a director of the board effective Dec. 18. Carol Howle, BP’s executive vice president, supply, trading, and shipping, will serve as interim CEO until O’Neill assumes the role. Auchincloss will remain in an advisory capacity through December 2026 to support the transition.
O’Neill is currently CEO of Woodside Energy, a position she has held since 2021. During her tenure, Woodside became the largest energy company listed on the Australian Securities Exchange. She oversaw the acquisition of BHP Petroleum International, expanding Woodside’s global oil and gas portfolio. Before joining Woodside in 2018, O’Neill spent 23 years at ExxonMobil in technical, operational, and leadership roles worldwide. She is chair of Australian Energy Producers and serves on the boards of the Business Council of Australia and the American Petroleum Institute.
Albert Manifold, chair of BP, said, “We are delighted to welcome Meg O’Neill to the BP team. Her proven track record of driving transformation, growth, and disciplined capital allocation makes her the right leader for BP. Her relentless focus on business improvement and financial discipline gives us high confidence in her ability to shape this great company for its next phase of growth and pursue significant strategic and financial opportunities.
“Following a comprehensive succession planning process, the board believes this transition creates an opportunity to accelerate our strategic vision to become a simpler, leaner, and more profitable company. Progress has been made in recent years, but increased rigor and diligence are required to make the necessary transformative changes to maximise value for our shareholders.”
O’Neill said, “BP plays a critical role in delivering energy to customers around the world. I am honoured to serve as the company’s next CEO. With an extraordinary portfolio of assets, BP has significant potential to reestablish market leadership and grow shareholder value. I look forward to working with the BP leadership team and colleagues worldwide to accelerate performance, advance safety, drive innovation and sustainability, and do our part to meet the world’s energy needs.”
BP said O’Neill’s appointment followed a board-led search process supported by an independent recruitment firm as part of the company’s long-term succession planning.
Auchincloss said, “After more than three decades with BP, now is the right time to hand the reins to a new leader. When Albert became chair, I expressed my openness to step down were an appropriate leader identified who could accelerate delivery of BP’s strategy. I am confident that BP is now well positioned for significant growth, and I look forward to watching the company’s future progress and success under Meg’s leadership.”
Manifold added, “On behalf of the board, I want to thank Murray for his many contributions to BP and for his commitment to our people and our business. We wish him every success in his next chapter.“
He also said, “The board is grateful for Carol’s willingness to serve as interim CEO. With 25 years at BP, she has a deep knowledge of the company and will ensure strategic continuity until Meg joins.”
Howle has served as BP’s executive vice president, supply, trading, and shipping since July 2020 and has more than 20 years of experience in the energy industry. She is also a non-executive board member of the Royal Navy and chair of the Navy Audit and Risk Assurance Committee.
