Meg O’Neill to Lead BP in Historic First for Big Oil

BP has appointed Meg O’Neill as its next chief executive, effective April 1, 2026, marking a pivotal moment as she becomes the first woman to lead a major oil company [Fortune]. The decision follows the departure of Murray Auchincloss, who stepped down on December 18, 2025 [Financial Post].

A Shift in Strategy for BP

O’Neill’s appointment signals a potential recalibration for BP, which has faced challenges following a previous attempt to pivot towards renewable energy [Financial Post]. The company has been under pressure from activist investor Elliott Investment Management to refocus on its core oil and gas business [Financial Post]. Auchincloss had already initiated a “hard reset,” cutting costs and increasing investment in fossil fuels [Fortune].

Who is Meg O’Neill?

O’Neill brings a wealth of experience from the energy sector, most recently serving as the leader of Australian oil and gas giant Woodside Energy Group Ltd. Since 2021 [Financial Post]. She is a Colorado native and a veteran of Exxon Mobil, where she spent 23 years [Fortune]. At Woodside, she oversaw the company’s expansion into the U.S. And its merger with BHP Group’s petroleum arm, significantly increasing its fossil fuel production [Fortune]. She is known for her operational rigor and belief in the long-term necessity of natural gas, particularly liquefied natural gas (LNG) [Financial Post].

Transition and Interim Leadership

Murray Auchincloss will remain with BP in an advisory role through all of 2026 [Fortune]. Until O’Neill assumes the CEO position on April 1, Carol Howle, currently the executive vice president of supply, trading, and shipping, will serve as interim CEO [Fortune].

Looking Ahead

The appointment of Meg O’Neill represents a significant change for BP, signaling a renewed focus on oil and gas operations. Her experience and leadership are expected to guide the company through a challenging energy landscape [The Guardian].