In a message to employees on her first day as chief executive, Meg O'Neill acknowledged the significant change BP has undergone, stating it can be tough, and committed to providing clear direction and consistency to move forward with confidence. She expressed honour in leading the company and respect for its global reach, while noting the industry faces an environment of significant complexity from wars, technological evolution, and shifting energy demand.

Leadership and Strategic Context

O'Neill's appointment follows a period of considerable leadership instability at BP, including two CEO changes in three years and an ongoing major strategy reset driven by investor pressure. She replaces Murray Auchincloss, who had become permanent CEO in January 2024 after serving as interim from September 2023 following Bernard Looney's abrupt resignation. Carol Howle served as interim CEO between Auchincloss's departure and O'Neill's start. Leadership changes extended to the board, with former chair Helge Lund stepping down during the strategy reset and being replaced by Albert Manifold.

Strategic Pivot and Investor Pressure

The leadership shifts coincided with a strategic pivot in 2025, as BP steered its focus back to core oil and gas operations after previous moves toward renewable energy failed to deliver financial windfalls. The company continues to face investor questions over this reset, including particular pressure from Elliott Investment Management, which built a 5% stake and pushed for faster disposal of low-carbon investments. As part of a major cost-cutting drive, BP revealed plans in August to shed 6000 jobs and will move its London headquarters in 2028.

O'Neill's Initial Approach

In her message, O'Neill stated she will travel in the coming months to visit global teams, seeking feedback on what is working, what isn't, and how to improve and support each other. She described BP as a great company built on remarkable people and world-class assets and expressed excitement about the next chapter. O'Neill previously led Australia's Woodside Energy, and her departure created a vacancy filled permanently by Liz Westcott earlier this month.