Notice: BP Names Meg O'Neill as First Female Chief Executive of a Global Oil Major

BP has appointed Meg O'Neill as its new chief executive, making her the first woman to run a major global oil firm and the first BP chief executive to be recruited from outside the company. The London-based energy giant announced on 18 December 2025 that its current boss, Murray Auchincloss, would step down less than two years after he replaced Bernard Looney. O'Neill currently runs the Australian oil and gas firm Woodside Energy and will take up her new role on 1 April 2026. Until then, BP executive vice president Carol Howle will serve as interim chief executive.

A leadership reset at the top

The surprise appointment comes only three months after BP named a new chairman, Albert Manifold. Auchincloss, who took over from Looney in September 2024, said he had told the chairman in September that he was open to stepping down "were an appropriate leader identified". "I am confident that BP is now well positioned for significant growth and I look forward to watching the company's future progress," he said after the appointment was announced. He will serve in an advisory role until December 2026.

Looney was dismissed without notice in 2023, after admitting he had not been "fully transparent" about past personal relationships with colleagues; the board said it had been "knowingly misled". He forfeited up to £32.4m ($43.3m) in salary and benefits, and at the time said in a statement that he was "disappointed with the way this situation has been handled".

Strategy: back to the oil and gas core

Under O'Neill, BP is expected to continue its recent strategy of moving away from renewables to refocus on its core oil and gas business. In February, the energy giant said it would shift its strategy following pressure from some investors who were frustrated that its profits and share price had lagged behind rivals. Rival Shell and Norwegian company Equinor have also scaled back plans to invest in green energy, and US President Donald Trump's call to "drill baby drill" has encouraged firms to invest in fossil fuels.

Energy consultant and former Shell executive Robin Mills told the BBC's Today programme that the "surprise" appointment of O'Neill was about refocusing on the core oil and gas businesses. "The new chairman... has really decided to put his stamp on things," he said, adding that the announcement made it very clear the chairman felt Auchincloss "had done a decent job, but not enough and more was needed and some new leadership, some new blood". Derren Nathan, head of equity research at Hargreaves Lansdown, said a new chairman and chief executive within months of each other shows the "legacy clear-out is now complete".

Who is Meg O'Neill?

O'Neill has led Woodside Energy since 2021. BP praised her time at the helm, pointing to the firm's takeover of BHP Petroleum International in 2022, and said she had grown the business into the largest energy company listed on the Australian Securities Exchange. Before that, she spent 23 years in technical, operational and leadership positions at Texas-based ExxonMobil, with roles in the Nordics, Southeast Asia, the US and Africa.

From April 2026 she will swap the sunny beach suburbs of Perth, Australia, where she lives with her wife and teenage daughter, for London, where BP is headquartered. O'Neill has previously discussed the difficulty of coming out in a male-dominated industry and said visibility was important. "I think it is important for me as a senior gay woman in the industry to be visible so young, queer people can look up and say, 'Look, there's somebody like me. I should be comfortable bringing myself to work,'" she told the West Australian in 2022. While leading Woodside, O'Neill reportedly refused to commit to binding net zero commitments, lobbied against regulations and cancelled renewable energy projects, despite shareholders voting that the company be more active in the energy transition. That put her in the sights of climate change activists, who in 2023 attempted to vandalise her ocean-front home and steal her luxury vehicles in protest.

Takeover speculation and investor reaction

Nathan said the focus for the incoming BP boss would be to boost profitability and the share price so that the company was not subject to a takeover as oil and gas majors merge. "Consolidation is the talk of the town, but BP is most frequently seen as prey rather than the hunter. Rival Shell has distanced itself from takeover speculation, but there are other potential suitors," he said, adding that O'Neill "may have a fight on her hands to ensure BP's not sold for a song, and to keep a seat at the table if it were to join forces with a competitor". Reaction from investors to her appointment was fairly muted: BP shares initially opened higher in London on Thursday morning before paring gains. O'Neill said she would prioritise re-establishing the oil giant's market leadership, as well as advancing safety and driving innovation and sustainability, and that she looks forward to helping BP "do our part to meet the world's energy needs".

• Appointed on 18 December 2025; takes up the role on 1 April 2026
• First woman to run BP and the first chief executive appointed from outside the company
• Murray Auchincloss steps down after less than two years and stays in an advisory role until December 2026
• Carol Howle serves as interim chief executive during the transition
• Led Woodside Energy since 2021, including the 2022 takeover of BHP Petroleum International
• Spent 23 years at ExxonMobil before joining Woodside
• Bernard Looney forfeited up to £32.4m ($43.3m) after his dismissal in 2023

Company details

BP plc is an integrated energy company headquartered in London, operating across oil, gas and low-carbon businesses. Original reporting: BBC News. Website: bp.com.