British energy giant BP extends shakeup as picks new CEO

LONDON, Dec 18 (AFP): British energy giant BP, which this year shelved targets on reducing carbon emissions, has appointed company outsider Meg O'Neill to be its chief executive from April, replacing Murray Auchincloss who stepped down Thursday.

BP said in a statement that company executive Carol Howle will serve as interim CEO until American national O'Neill moves over from her position as chief executive of Australian group Woodside Energy.

The unexpected shakeup comes with BP pivoting back to its more profitable oil and gas business as it slashes clean energy investment. BP chair Albert Manifold said O'Neill's "proven track record of driving transformation, growth, and disciplined capital allocation makes her the right leader".

He added that the change helps to "accelerate" BP's "strategic vision to become a simpler, leaner, and more profitable company. "Progress has been made in recent years, but increased rigor and diligence are required to make the necessary transformative changes to maximise value for our shareholders," said Manifold, in his role since October.

O'Neill said "BP has significant potential to re-establish market leadership", adding she planned to "accelerate performance, advance safety, drive innovation and sustainability and do our part to meet the world's energy needs".