Woodside names Acting CEO

Woodside Petroleum has announced that Meg O'Neill will be acting chief executive from April 20 after bringing forward Peter Coleman’s retirement date.

Mr Coleman will step down from the board on April 19 and will continue to work with the company until his retirement on June 3.

When his planned retirement was flagged in December last year, the company said he would retire in the second half of 2021.

The company added today that its internal and external search for its next chief executive was progressing.

Ms O'Neill is Woodside’s executive vice-president development and marketing and widely been considered the lead internal candidate to succeed Mr Coleman.

Other internal candidates are likely to include technology boss Shaun Gregory and chief financial officer Sherry Duhe.

Chairman Richard Goyder commended Ms O'Neill.

“Meg has demonstrated that she is an extremely capable executive, underpinned by her extensive experience and track record in the global energy sector,” Mr Goyder said.

Ms O’Neill joined Woodside from ExxonMobil in May 2018.

Mr Goyder reiterated the board’s thanks for Mr Coleman’s leadership over his 10-year term as chief executive.

“Peter has been an outstanding CEO, creating a resilient and future-focused organisation,” Mr Goyder said.

“Throughout his time at the helm of Woodside, Peter has demonstrated a commitment to promoting inclusion and diversity, operational excellence, a safe workplace, prudent capital management and maintenance of a strong balance sheet.”

Today’s update comes ahead of the company annual general meeting on Thursday.