BP poaches Woodside boss Meg O’Neill to be its first female CEO

Petroleum giant Woodside is without a permanent chief executive after its top boss announced her shock resignation.

In a statement to the ASX, Woodside said its chief executive and managing director Meg O’Neill had resigned from the board after being snapped up by British energy giant BP.

Ms O’Neill’s appointment will make her the first female BP chief executive.

Woodside has congratulated Ms O’Neill on her new role, saying she left the company in a “strong position”.

“The board’s appointment of Meg as CEO in 2021 set the foundation for Woodside’s transformational growth over recent years,” Woodside chair Richard Goyder said.

“This strong business performance has been translated into approximately $11bn in

dividends paid to shareholders since 2022 and a growth trajectory which is expected to deliver significant value.”

Woodside has begun the hunt for its new chief executive.

In the meantime Woodside has appointed Liz Westcott to fill in as acting chief executive.

“(Ms Westcott) will lead and work with Woodside’s highly capable executive leadership team to continue to execute against Woodside’s strategy to deliver shareholder value through disciplined decision-making and operational excellence,” Mr Goyder said.

Ms O’Neill will take over from outgoing BP chief executive Murray Auchincloss, who has decided to step down immediately from the board.

Ms O’Neill will take over as chief executive on April 1, while Mr Auchincloss will serve in an advisory role through 2026.

BP chair Albert Manifold said he was delighted Ms O’Neill was joining the team.

“Her proven track record of driving transformation, growth, and disciplined capital allocation makes her the right leader for BP,” he said.

“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.”