BP Plc (LSE:BP.) has confirmed the appointment of Meg O’Neill as its new chief executive, with her tenure set to begin on 1 April 2026. The announcement follows the decision by current CEO Murray Auchincloss to step down, with Carol Howle appointed as interim chief executive during the transition period.

The energy group said Auchincloss will resign from both his executive role and the board on 18 December. Howle, who currently serves as executive vice president for supply, trade and transportation, will lead the company on an interim basis until O’Neill formally takes up the position. Auchincloss will continue to support BP in an advisory capacity through to December 2026 to ensure a smooth handover.

O’Neill has been chief executive of Woodside Energy since 2021, a period during which BP noted that the company became the largest energy business listed on the Australian Securities Exchange. During her tenure, she also led the acquisition of BHP Petroleum International, creating a more geographically diversified oil and gas portfolio.

Prior to joining Woodside in 2018, O’Neill spent 23 years at ExxonMobil, where she held a range of technical, operational, and senior management roles across multiple countries, according to BP.

Commenting on the appointment, BP chairman Albert Manifold said the board viewed the change as a strategic opportunity. “After a comprehensive succession planning process, the board believes this transition creates an opportunity to accelerate our strategic vision to become a simpler, leaner, and more profitable company,” Manifold said in a statement.

O’Neill said BP “plays a crucial role in providing energy to customers around the world” and added that she was “honored to serve as the company’s next CEO”.

Auchincloss, who has spent more than 30 years with BP, said his departure followed discussions with the chairman. “After more than three decades at BP, the time has come to hand over the reins to a new leader,” he said.

Interim chief executive Carol Howle has been with BP for 25 years and has held her current executive vice president role since July 2020. Her previous responsibilities included leading BP Shipping and overseeing integrated oil supply and trading operations. Outside the company, she also serves as a non-executive member of the Royal Navy Board of Trustees and chairs the Navy’s Audit and Risk Assurance Committee.

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