British oil giant BP just announced a new CEO, marking its fourth chief executive shake-up in the last six years alone. 

The company named Meg O’Neill, who previously led Australia’s top oil and gas company Woodside Energy, to the role. O’Neill will become the first woman to hold the top executive spot at one of the world’s biggest oil companies. She said that she looks forward to working to “accelerate performance” at BP and plans to prioritize shareholder growth and reestablish BP—now a possible takeover target—as a market leader in the oil and gas industry.

O’Neill will take over from Murray Auchincloss, a longtime BP employee who was appointed as interim CEO in 2023 before being named to the role permanently in January 2024. While Auchincloss will leave the oil giant immediately, O’Neill won’t take the helm until April of next year.

“After more than three decades with BP, now is the right time to hand the reins to a new leader,”........

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