Woodside names Liz Westcott CEO and managing director

Woodside Energy has appointed Elizabeth “Liz” Westcott as chief executive officer and managing director, formalizing a leadership transition that began late last year.

Liz Wescott

Westcott has served as acting CEO since December 2025, following the departure of Meg O’Neill. O’Neill was appointed chief executive officer of BP and is expected to formally assume the role in April, becoming the company’s first female CEO

Wescott’s appointment follows what the company described as a comprehensive recruitment process that included both internal and external candidates.

Woodside Chair Richard Goyder said Westcott’s selection reflects the company’s succession planning and depth of leadership talent.

“Liz’s proven track record of outstanding strategic leadership and disciplined delivery distinguished her as the Board’s top candidate for this role,” Goyder said. “Her extensive industry experience and strategic vision will be invaluable in leading Woodside at this significant moment in its history.”

Westcott brings more than 30 years of experience in the global energy sector. Since joining Woodside in June 2023, she has led the company’s Australian operations as executive vice president and, more recently, chief operating officer Australia. In that role, she has overseen major developments including the Scarborough Energy Project and the Bass Strait operator transition.

Prior to Woodside, Westcott served as chief operating officer at EnergyAustralia. She also spent 25 years at ExxonMobil, working across Australia, the United Kingdom and Italy in roles spanning strategic planning, operations, project execution and commercial leadership. Her experience includes a secondment as managing director of Adriatic LNG.

Westcott said her focus as CEO will center on operational execution and long-term value creation.

“Woodside is a great company with highly talented people and a proud track record of delivery for our customers and stakeholders,” she said. “My focus as CEO is on sustainable value creation for Woodside shareholders, operational excellence and disciplined execution of our growth projects.”

Under the terms of her appointment, Westcott will receive a fixed annual reward of A$2.3 million, with additional compensation tied to short- and long-term incentive programs beginning in fiscal year 2026. The structure includes a target short-term incentive opportunity of 180% of fixed pay and a long-term incentive opportunity of 300%, both subject to performance conditions.

Westcott also serves on the board of Australian Energy Producers and holds degrees in commerce and civil engineering from the University of Melbourne.