BP has announced a major leadership change with the appointment of a new chief executive after the current boss is leaving the company after less than two years in the role. The British energy giant said Murray Auchincloss will step down immediately as chief executive and will be succeeded by Meg O’Neill, the current head of Australia’s Woodside Energy, who is due to take up the BP role in April 2026. Carol Howle, BP’s head of trading, will act as interim CEO until O’Neill joins the company. The move comes amid broader changes at BP’s board level and reflects ongoing efforts to reshape the company’s strategy and performance.

Auchincloss, a Canadian executive who became BP’s chief executive in January 2024 following the resignation of his predecessor, has led the company for under two years. His short tenure saw a strategic pivot focusing more on traditional oil and gas operations and scaling back some of BP’s renewable energy commitments, a shift prompted by shareholder pressure and internal strategy reviews. BP said Auchincloss will remain with the business in an advisory role until December 2026 to support the transition to new leadership.

The incoming chief executive, Meg O’Neill, will make history at BP as the first woman to lead the company and the first external hire for the top job in the firm’s 116 year existence. O’Neill’s appointment also marks the first time a woman …