Mr Auchincloss, who took over from Mr Looney in September 2024, said he had told BP’s chairman in September that he was open to stepping down “were an appropriate leader identified”.
“I am confident that BP is now well positioned for significant growth and I look forward to watching the company’s future progress,” he said after Ms O’Neill’s appointment was announced. He will serve in an advisory role until December 2026.
Ms O’Neill said she would prioritise re-establishing the oil giant’s market leadership, as well as advancing safety and driving innovation and sustainability.
