BP names Meg O'Neill as new chief executive after Murray Auchincloss steps down
Meg O'Neill, head of Woodside Energy, will become BP's first female chief executive, taking the helm in 2026 as the company shifts focus to its oil and gas core.
BP named Meg O'Neill as chief executive, making her the first woman to run a major global oil company. The London-based energy group said current chief Murray Auchincloss would step down after less than two years in the role, having replaced Bernard Looney, who was dismissed in 2023 for failing to disclose relationships with colleagues. O'Neill will take up the post on 1 April 2026, with interim chief executive Carol Howle continuing to lead BP until then.
O'Neill is currently chief executive of Woodside Energy, the Australian oil and gas producer. BP said her appointment signals a continuation of its shift away from a broad renewables push toward a focus on its core oil and gas business, a strategy it has pressed since investor concerns about profits and share price under Looney and Auchincloss. Albert Manifold, BP's chairman, welcomed the decision and said O'Neill brings a track record of running large, complex operations under pressure. She will relocate from Perth, Australia, to London when she takes the helm.
As part of the transition, BP said executive vice president Carol Howle would serve as interim chief executive until O'Neill assumes the role. The appointment comes amid a broader leadership reshuffle at BP after a series of changes at the top in recent years, including the abrupt departure of Looney and the installation of a new chairman. Auchincloss, who took over from Looney in September 2024, said he was open to stepping down if a suitable successor was identified and will serve in an advisory capacity through December 2026.
The choice of O'Neill is seen as a signal that BP intends to stabilize leadership and push for stronger profitability and share price performance, potentially reducing the risk of a takeover as consolidation shapes the oil sector. Analysts noted that while Shell and Equinor have signaled some retrenchment from aggressive renewables investments, major oil majors remain under pressure from investors to demonstrate returns and governance effectiveness.
O'Neill's background includes 23 years at ExxonMobil in technical, operational and leadership roles across the Nordics, Southeast Asia, the United States and Africa before joining Woodside in 2021. At Woodside, she oversaw the firm's acquisition of BHP Petroleum International in 2022 and steered the company to become the largest energy company listed on the Australian Securities Exchange. Her tenure at Woodside was marked by a divided political and activist response: while shareholders voted for a stronger energy transition, reports cite that she previously refused binding net-zero commitments, lobbied against some regulations and canceled renewable-energy projects, drawing protests from climate activists in 2023.
Reaction from investors to the appointment was relatively muted. BP shares opened higher in London on Thursday morning but pared gains as trading progressed. BP said O'Neill would prioritize re-establishing market leadership, advancing safety, and driving innovation and sustainability as part of a longer-term strategy that emphasizes steady profitability over rapid expansion in renewables.
O'Neill’s appointment also crosses into broader social significance. She has spoken publicly about the challenges of being openly LGBTQ+ in a male-dominated industry and has stressed the importance of visibility for younger queer professionals. From April 2026 onward, she is expected to relocate to London as BP continues its governance and strategic refinements under Manifold's leadership.