BP p.l.c. (LSE and NYSE: bp) has announced a senior leadership transition, with the Board appointing Meg O’Neill as the company’s next chief executive officer, effective 1 April 2026.
The energy major confirmed that current CEO Murray Auchincloss will step down from his role as chief executive and Board director on Thursday, 18 December. Carol Howle, bp’s executive vice president for supply, trading & shipping, will take on the role of interim CEO until O’Neill formally assumes the position. Auchincloss will remain in an advisory capacity until December 2026 to support the handover.
Meg O’Neill currently serves as chief executive of Woodside Energy. Since taking on that role in 2021, she has led the company’s expansion into the largest energy business listed on the Australian Securities Exchange. During her tenure, she oversaw the acquisition of BHP Petroleum International, creating a geographically diversified portfolio of oil and gas assets. Prior to joining Woodside Energy in 2018, O’Neill spent 23 years at ExxonMobil, holding a range of technical, operational and leadership roles across multiple regions.
Commenting on the appointment, 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.”
Manifold added that the decision followed an extensive succession planning process and was intended to support bp’s longer-term strategy. He said: “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 she was honoured to take on the role at bp, highlighting the company’s global importance in the energy system. She 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.”
Murray Auchincloss, who has spent more than 30 years with bp, said the timing was right for a leadership change. He 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 also paid tribute to Auchincloss’s contribution to the company, saying: “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.”
The Board also acknowledged Carol Howle’s role during the interim period. Manifold 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.”
BP said O’Neill’s appointment followed a formal search led by a Board committee and supported by an independent recruitment firm, as part of its long-term succession planning. The company added that, aside from the details already disclosed, there was no further information required under UK Listing Rule 6.4.8.
The announcement contains inside information, with Ben Mathews, Company Secretary, named as the person responsible for its release on behalf of bp p.l.c.
