BP has hired Meg O’Neill as its new chief executive in a surprise change at the top marking the first time a woman has been appointed at the helm of one of the world’s top five oil firms.
The FTSE 100 oil giant said current boss Murray Auchincloss had stepped down after less than two years in the role and will be replaced by Woodside Energy chief executive Ms O’Neill on April 1.
Mr Auchincloss will remain with the group in an advisory role until December next year to help with a smooth handover, while Carol Howle, current executive vice president of supply, trading and shipping at BP, will act as chief executive on an interim basis until Ms O’Neill joins.
The abrupt departure of Mr Auchincloss follows the appointment of Albert Manifold as BP’s new chairman in July.
Mr Auchincloss took over at the top when former boss Bernard Looney quit in September 2023 after failing to disclose his past relationships with company colleagues.
“When Albert became chair, I expressed my openness to step down were an appropriate leader identified who could accelerate delivery of BP’s strategy,” Mr Auchincloss said.
Ms O’Neill’s appointment makes history as she becomes the first woman to run BP, but also the first woman to head up a top five global oil company.
She has headed up Woodside Energy since April 2021, having been promoted after taking on a number of senior roles at the firm since joining in 2018.
Before that, she worked at ExxonMobil for 23 years in a raft of executive roles.