O'Neill is BP's fourth CEO since 2020 and its first external hire for the role in more than a century. Formerly of Australia's Woodside Energy and Exxon Mobil, O'Neill arrives as BP seeks to move away from an ill-fated foray into renewables. Activist investor Elliott Investment Management, one of BP's largest shareholders, has called on Manifold to address what it has called the company's shortcomings. The company suspended share buybacks in February to focus on cutting debt and refocusing investment on oil and gas projects. O'Neill will receive a base salary of 1.6 million pounds ($2.1 million), according to the company's annual report in March.

Source: The Guardian April 01, 2026 20:26 UTC