Woodside Energy appoints acting boss Liz Wescott to permanently take the helm
The new CEO takes over at a time when Woodside’s shares are flying high, fuelled by a global energy crisis triggered by the war in the Middle East.
Woodside Energy has replaced one female chief executive with another.
Acting chief executive Liz Wescott has been appointed to the job permanently, the company said on Wednesday, succeeding Meg O’Neill, who left in December to lead global oil giant BP.
A civil engineer who has been at the $60 billion gas producer less than three years, Ms Wescott will be paid $2.3 million a year, in addition to bonuses.
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By continuing you agree to our Terms and Privacy Policy.Her rise shows how women are increasingly succeeding in the previously male-dominated oil and gas industry.
Ms Wescott’s new counterpart at BHP, Brandon Craig, will be paid $US1.9m ($2.7m) a year. His appointment was made public the same day.
Ms Wescott takes over at a time when Woodside is in a strong position. The shares have risen 37 per cent over the past year, driven by strong demand in Asia for the company’s liquified natural gas and, more recently, a surge in gas and oil prices triggered by the war in the Middle East.
“My focus as CEO is on sustainable value creation for Woodside shareholders, operational excellence and disciplined execution of our growth projects,” she said in a press release.
Her appointment was overseen by chairman Richard Goyder.
Ms O’Neill has been on gardening leave since stepping down. She is due to start with BP next month on an initial £11.7 million-plus ($22.25m) package that includes cash and share-based awards to replace bonuses and stock rights forfeited on her resignation from Woodside.
