BP appoints first female CEO in Big Oil

Multinational oil and gas giant BP has named Meg O’Neill as its new CEO, making her Big Oil’s first female leader, according to Bloomberg.

O’Neill will replace current CEO Murray Auchincloss, who took the role in 2024.

BP said O’Neill is expected to assume the position in April 2026. Until then, Carol Howle will serve as interim CEO.

The new CEO had previously spent 20 years at Exxon Mobil and currently leads Australia’s Woodside Energy.

The leadership transition follows a turbulent period for BP, characterized by a faltering pivot toward renewable energy that left the company lagging behind its rivals. BP is also under growing pressure from activist investor Elliott Investment Management.

Elliott, which holds about a 5% stake in BP, is urging the company to abandon underperforming green initiatives and refocus on its core oil and gas business.