The chief executive of Australian oil and gas producer Woodside has resigned from the company, effective immediately, in a move to energy giant BP.
In a statement, Perth-based Woodside Energy said Meg O’Neill had stepped down from the position she had held since 2021 and was taking on the chief executive role at BP.
Woodside has appointed Liz Westcott as its acting chief executive while it seeks a permanent replacement for Ms O’Neill.
Ms Westcott joined the company in 2023 and led its Australian operations as executive vice-president and chief operating officer.
Clash with protesters
Ms O’Neill has been at Woodside since 2018 and oversaw the company during a period when it was never far from the headlines.
Its successful bid to extend the North West Shelf gas project until 2070 angered climate activists and traditional owners, who said the emissions produced would be a “death sentence” for the ancient rock carvings at Murujuga.
Woodside has been the subject of ongoing protests during Meg O’Neill’s tenure. (ABC News: Briana Shepherd)
Climate activists were particularly critical of Woodside’s plans to extract gas 3 kilometres from Scott Reef, which is home to endangered whales and turtles and coral species.
In August 2023, Ms O’Neill’s home in the Perth suburb of City Beach was targeted by activists protesting Woodside’s expansion plans at the Burrup Hub, and six people were arrested.
Five were ultimately convicted and fined up to $2,500 each.
O’Neill thanked
Woodside thanked Ms O’Neill for leaving the company in “a strong position”, with the company’s chair Richard Goyder saying she had made a significant contribution.
Ms O’Neill is expected to take up her new role at BP early next year. (ABC News: Keane Bourke)
“The Board’s appointment of Meg as CEO in 2021 set the foundation for Woodside’s transformational growth over recent years,” he said.
“This strong business performance has been translated into approximately $11 billion in dividends paid to shareholders since 2022, and a growth trajectory which is expected to deliver significant value.”
Search for replacement
Mr Goyder said the board had a number of high-quality candidates to choose from in its search for a permanent replacement for Ms O’Neill.
Woodside says it plans to announce a permanent replacement for Ms O’Neill in the first quarter of 2026. (ABC News: Armin Azad)
“The Board’s ongoing focus on CEO succession planning means Woodside is fortunate to have a number of highly qualified internal candidates as we also assess external talent options to ensure the best possible CEO appointment,” he said.
“We are well positioned to conclude this process efficiently with the intention of announcing a permanent appointment in the first quarter of 2026.”
Ms O’Neill is expected to move to BP in early 2026.
BP ‘delighted’ to add O’Neill
BP chair Albert Manifold said the company would benefit from Ms O’Neill’s experience.
BP says Ms O’Neill is the “right leader” for the company. (ABC Rural)
“We are delighted to welcome Meg O’Neill to the BP team,” he said.
“Her proven track record of driving transformation, growth, and disciplined capital allocation makes her the right leader for BP.
“Her relentless focus on business improvement and financial discipline gives us high confidence in her ability to shape this great company for its next phase of growth and pursue significant strategic and financial opportunities.”
Loading