Woodside Energy Group Ltd announced that Meg O’Neill, who has served as chief executive officer and managing director since April 2021, has resigned effective 18 December 2025. The board appointed Executive Vice President and Chief Operating Officer Australia Liz Westcott as Acting CEO, a role she will hold until a permanent successor is selected.
O’Neill’s tenure was marked by a series of transformational milestones. She oversaw the completion of the BHP Petroleum merger in June 2022, secured the final investment decision for the Scarborough Energy Project, and launched the Sangomar field, all of which have positioned Woodside as a leading LNG producer in the Asia‑Pacific region. Chair Richard Goyder praised her leadership, noting that “Woodside is in a strong position, having achieved record production and a net profit after tax of $3.573 billion in 2024, and has paid $11 billion in dividends to shareholders since 2022.”
Westcott joined Woodside in June 2023 as Executive Vice President and COO Australia. Prior to that she was Chief Operating Officer at Energy Australia and spent 25 years at ExxonMobil. Her operational expertise and deep knowledge of Woodside’s Australian portfolio are expected to provide continuity as the company advances the Scarborough Energy Project—now over 91 % complete and targeting first LNG in the second half of 2026—and the Sangomar field, which has delivered strong early production. Westcott’s appointment signals the board’s confidence in internal talent to steer the company through the next phase of growth.
Financially, Woodside reported record production in 2024, with a net profit after tax of $3.573 billion, a 13 % decline in underlying NPAT due to lower commodity prices but still the highest in the company’s history. The company maintained a robust dividend payout ratio, returning $11 billion to shareholders since 2022, and its capital discipline remains a cornerstone of its strategy. The leadership transition comes at a time when the company’s core LNG projects are on track, and the board has reiterated its commitment to disciplined capital allocation and operational excellence.
The announcement coincided with a broader decline in the energy sector, and investors remained cautious. While the market reaction was muted, analysts noted that Woodside’s strong project pipeline and solid financial footing mitigate short‑term concerns. The board’s plan to name a permanent CEO in the first quarter of 2026 reflects a structured succession strategy aimed at preserving momentum.
The transition underscores Woodside’s focus on continuity and execution. With Westcott at the helm, the company is positioned to maintain progress on its flagship projects, uphold its dividend policy, and continue to deliver shareholder value while the board searches for a long‑term CEO who can build on the foundation laid by O’Neill.
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