BP plc has appointed Meg O’Neill as its next chief executive officer. Murray Auchincloss has decided to step down from his position as CEO and director of the board, and the role will be held in the interim by Carol Howle, current executive vice president, supply, trading & shipping. Auchincloss will remain in an advisory role until December 2026.

O’Neill currently serves as CEO of Woodside Energy. Before joining the company in 2018, she spent 23 years at ExxonMobil in technical, operational and leadership positions around the world.

She is chair of the Australian oil and gas industry body, Australian Energy Producers, and sits on the boards of the Business Council of Australia and the American Petroleum Institute.

Albert Manifold, chair of BP, thanked Auchincloss for his contributions and 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.

“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.”

“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.”