BP Names Meg O’Neill Permanent Chief Executive

BP has named Meg O’Neill its permanent chief executive, removing any remaining shared-authority arrangement at the top of the company. The appointment means O’Neill now holds sole responsibility for the company’s performance and any future restructuring.

A company statement said the board completed its review and selected O’Neill for the permanent role. The same statement noted that O’Neill will no longer share decision-making authority with a chairman on operational matters.

The move places full accountability for results on O’Neill, according to the statement. The company said it continues to evaluate options for its portfolio and cost structure.

“Whatever comes next at BP, success or failure, CEO Meg O’Neill will now own it." The statement did not provide a timetable for additional leadership or structural changes.”