BP has named Meg O’Neill as its next chief executive officer, with the transition effective April 1 2026. The appointment follows the immediate resignation of Murray Auchincloss, who stepped down as CEO and director on December 18 2025. Carol Howle, BP’s executive vice‑president for supply, trading and shipping, will serve as interim CEO until O’Neill takes the helm.
O’Neill brings more than two decades of experience in the oil and gas sector, having led Woodside Energy as CEO and spent 23 years at ExxonMobil. Her track record of driving operational efficiency and disciplined capital allocation positions her to steer BP through its current strategic reset, which prioritizes core hydrocarbon production and financial discipline over aggressive renewable‑energy targets.
BP’s board and chair Albert Manifold said the change is part of a broader effort to “simplify, lean, and become more profitable.” The company’s 2025 strategy review concluded that investor pressure and a reassessment of the pace of the energy transition warranted a sharper focus on oil and gas, with reduced investment in low‑carbon projects. O’Neill’s operational expertise is expected to accelerate this shift and close the performance gap with competitors such as ExxonMobil and Shell.
In a statement, O’Neill said, “BP plays a critical role in delivering energy worldwide. I am honoured to lead the company and look forward to driving performance, safety, and sustainability across our portfolio.” Auchincloss added, “After more than three decades with BP, I am confident the company is well positioned for growth and I look forward to watching its progress under Meg’s leadership.” Chair Manifold emphasized that the transition “creates an opportunity to accelerate our strategic vision and deliver significant value to shareholders.”
The leadership change signals BP’s intent to strengthen its core operations and improve cash‑flow resilience. By appointing an outsider with a proven operational record, BP aims to tighten cost controls, enhance margin performance, and accelerate the execution of its simplified business model. The move is expected to reinforce BP’s competitive position in the global energy market and align the company’s strategy with investor expectations for profitability and disciplined growth.
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