Shock Leadership Shakeup: BP Appoints Woodside’s Meg O’Neill as First Female CEO After Murray Auchincloss’ Abrupt Exit
In a stunning BP CEO transition that has sent ripples through the energy sector, British oil giant BP has named Meg O’Neill, current head of Australia’s Woodside Energy, as its new chief executive. This historic appointment makes O’Neill the first female CEO of a major global oil company, following the sudden departure of Murray Auchincloss amid ongoing efforts to refocus on profitable oil and gas operations.
The announcement came late Wednesday, catching many industry watchers off guard. O’Neill, a 55-year-old American with deep roots in the oil business, will take the helm on April 1, 2026. Until then, BP’s executive vice president Carol Howle will serve as interim CEO. Auchincloss, who has spent over three decades at BP, will step down immediately but remain in an advisory role through December 2026 to aid the handover.
BP’s board praised O’Neill’s track record, highlighting her leadership at Woodside since 2021. Under her guidance, the Australian firm completed a major merger with BHP’s petroleum assets, doubling production and establishing itself as a top global independent producer. Before Woodside, O’Neill spent 23 years at ExxonMobil, gaining expertise in operations worldwide.
This marks BP’s first external CEO hire in its 115-year history, signaling a bold shift as the company navigates investor pressure for better returns. Recent years have seen BP scale back ambitious renewable energy targets set under previous leadership, admitting optimism about a rapid energy transition was misplaced. Instead, the focus has returned to core oil and gas strengths to boost profits and shareholder value.
Industry experts view the move positively. “This is clearly a high-profile hire, and probably some of the change that BP shareholders have been looking for,” said Dan Pickering, chief investment officer at Pickering Energy Partners. Shares in Woodside dipped on the news of O’Neill’s departure, while BP’s strategic pivot continues to draw attention from activists and investors alike.
For American readers, the change carries significant weight. As a U.S. citizen from Colorado leading one of the world’s largest energy firms, O’Neill could influence BP’s substantial operations in the Gulf of Mexico, where the company runs major platforms like Argos. Increased emphasis on oil and gas production might stabilize domestic energy supplies, potentially easing gasoline prices and supporting thousands of U.S. jobs in the sector. With global oil markets volatile, her experience in disciplined growth could help shield consumers from sharp fluctuations.
O’Neill expressed excitement about the role, stating she looks forward to accelerating BP’s performance while advancing safety, innovation, and sustainability. BP Chairman Albert Manifold called her the right leader to drive the company toward becoming “simpler, leaner, and more profitable.”
The energy sector watches closely as this BP CEO transition unfolds, with Meg O’Neill poised to make history as the first female CEO in Big Oil. Her appointment underscores evolving leadership in an industry facing demands for both profitability and responsible energy practices, setting the stage for potential growth in oil and gas amid ongoing global shifts.
By Mark Smith
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