BP CEO Auchincloss Steps Down, Woodside’s O’Neill Takes Job

Meg O'Neill, chief executive officer of Woodside Energy Group Ltd., attends a news conference following the company's annual general meeting in Perth, Australia on Thursday, May 8, 2025. Last week, Woodside Energy made a final investment decision on a $17.5 billion liquefied natural gas export project in the US, cementing the Australian companys position as a top supplier of the super-chilled fuel. Photo by Matt Jelonek /BloombergArticle content(Bloomberg) — BP Plc Chief Executive Officer Murray Auchincloss is stepping down after less than two years at the helm. The British oil major, which has struggled to revive its fortunes after an ill-fated strategic pivot toward renewable energy, has appointed its first female head.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentMeg O’Neill, the boss of Australian energy company Woodside Energy Ltd., will take over as CEO at BP starting in April, the London-listed company said Wednesday. Carol Howle will serve as interim CEO. Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentThe management shakeup comes as BP lags behind its rivals due to a combination of corporate disasters, war, lackluster returns from its greener efforts and some bad luck. The company’s turnaround effort, which focuses on oil and gas, risks being blown off course as crude prices slump to the lowest level since 2021.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentSince becoming CEO of Woodside in 2021, O’Neill helped expand its liquefied natural gas business outside of Australia. O’Neill, who also spent over two decades at Exxon Mobil Corp., has been a big proponent of using gas as a transition fuel to reduce global coal demand and cut emissions.Article contentBP has been under pressure from activist investor Elliott Investment Management to improve its performance, after Auchincloss reset the company’s strategy in February by promising to refocus on oil and gas. The plan features portfolio divestments to reduce debt and improve the balance sheet, but the company has so far announced only small asset sales.Article content“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,” BP Chair Albert Manifold said. Article contentLiz Westcott will be acting CEO of Woodside, the Australian producer said in a separate statement. Article content—With assistance from Carmeli Argana and Keira Wright.Article contentTrending Is a $2.75 million portfolio enough for Halifax empty nesters to retire early?

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Personal Finance Canada's population declines for the first time since the pandemic News 'Why let one person in the States change your life?' For Canadian snowbirds, the stay or go dilemma gets complicated Real Estate Expect 'dramatically higher' oil prices in 2026, says Eric Nuttall Oil & Gas World watches as Ottawa's bullish shift on LNG puts wind at the back of two major projects Oil & Gas