BP Appoints First Outsider as CEO After Ousting Auchincloss (1)

BP Plc appointed Meg O’Neill as chief executive officer, replacing Murray Auchincloss after just two years in the job as the oil giant struggles to revive its fortunes following a botched pivot toward renewables.

O’Neill, who becomes Big Oil’s first female leader, moves to BP from Australia’s Woodside Energy Group Ltd., where she spent four years in the top job with a clear focus on fossil fuels. She previously spent more than two decades at Exxon Mobil Corp.

The sudden management shakeup comes as BP lags behind rivals due to a combination of corporate disasters, ...