BP p.l.c. Broadcasts New Management Appointment

BP p.l.c. (LSE and NYSE:bp) (“bp”) declares that the bp Board has appointed Meg O’Neill as bp’s subsequent chief government officer (“CEO”), efficient 1 April 2026. Murray Auchincloss has determined to step down from his place as CEO and director of the Board, efficient Thursday, 18 December. Carol Howle, present government vice chairman, provide, buying and selling & transport of bp, will function interim CEO till Meg joins as CEO. Murray will serve in an advisory function till December 2026 to make sure a easy transition.

Meg at the moment serves as CEO of Woodside Power. Since her appointment as CEO in 2021, Meg O’Neill has grown Woodside Power into the most important power firm listed on the Australian Securities Alternate. Amongst her many accomplishments at Woodside Power, she oversaw the transformative acquisition of BHP Petroleum Worldwide, making a geographically various enterprise with a portfolio of high-quality oil and gasoline property. Earlier than becoming a member of Woodside Power in 2018, Meg spent 23 years at ExxonMobil in technical, operational and management positions around the globe.

Albert Manifold, Chair of bp, mentioned: “We’re delighted to welcome Meg O’Neill to the bp group. Her confirmed monitor report of driving transformation, progress, and disciplined capital allocation makes her the proper chief for bp. Her relentless give attention to enterprise enchancment and monetary self-discipline provides us excessive confidence in her means to form this nice firm for its subsequent section of progress and pursue vital strategic and monetary alternatives.

“Following a complete succession planning course of, the Board believes this transition creates a possibility to speed up our strategic imaginative and prescient to change into an easier, leaner, and extra worthwhile firm. Progress has been made lately, however elevated rigor and diligence are required to make the required transformative modifications to maximise worth for our shareholders.”

Meg O’Neill mentioned: “bp performs a essential function in delivering power to prospects around the globe. I’m honoured to function the corporate’s subsequent CEO. With a rare portfolio of property, bp has vital potential to reestablish market management and develop shareholder worth. I stay up for working with the bp management group and colleagues worldwide to speed up efficiency, advance security, drive innovation and sustainability and do our half to fulfill the world’s power wants.”

Murray Auchincloss mentioned: “After greater than three a long time with bp, now’s the proper time at hand the reins to a brand new chief. When Albert grew to become Chair, I expressed my openness to step down have been an applicable chief recognized who might speed up supply of bp’s technique. I’m assured that bp is now properly positioned for vital progress and I stay up for watching the corporate’s future progress and success underneath Meg’s management.”

Albert Manifold continued: “On behalf of the Board, I need to thank Murray for his many contributions to bp and for his dedication to our folks and our enterprise. We want him each success in his subsequent chapter.“

“The Board is grateful for Carol’s willingness to function interim CEO. With 25 years at bp, she has a deep data of the corporate and can guarantee strategic continuity till Meg joins.”

The appointment of Meg O’Neill follows a search course of overseen by a search committee of the Board, assisted by an impartial recruitment agency, as a part of the Board’s long-term succession planning. 

Save as disclosed on this announcement, there is no such thing as a different data required to be disclosed pursuant to UK Itemizing Rule 6.4.8.

This announcement incorporates inside data. The individual answerable for arranging the discharge of this announcement on behalf of bp p.l.c., is Ben Mathews, Firm Secretary.