Woodside Energy today announced the appointment of Elizabeth (Liz) Westcott as Chief Executive Officer and Managing Director, following a comprehensive recruitment process after the departure of Meg O’Neill in December 2025 who is now the CEO at British oil major BP.
Westcott, who has been serving as Acting CEO since December, brings more than three decades of experience in the global energy sector, including senior leadership roles spanning operations, project delivery, and corporate strategy.
Since joining Woodside in June 2023 as Executive Vice President and Chief Operating Officer Australia, Westcott has led the company’s Australian operations, including oversight of the Scarborough Energy Project and the transition of operatorship in the Bass Strait.
Her career prior to Woodside includes serving as Chief Operating Officer at EnergyAustralia and a 25-year tenure with ExxonMobil across Australia, the United Kingdom and Italy.
Woodside Chair Richard Goyder congratulated Westcott on her appointment, highlighting her leadership capabilities and strategic insight.
“I am delighted with the appointment of Liz as Woodside’s next CEO and Managing Director,” Goyder said.
“Liz’s proven track record of outstanding strategic leadership and disciplined delivery distinguished her as the Board’s top candidate for this role.
“Liz’s extensive industry experience and strategic vision will be invaluable in leading Woodside at this significant moment in its history, as we position the company to meet growing global energy demand and deliver long-term shareholder value.”
Acknowledging her appointment, Westcott said she was honoured to lead the company into its next phase of growth.
“Woodside is a great company with highly talented people and a proud track record of delivery for our customers and stakeholders,” Westcott said.
“My focus as CEO is on sustainable value creation for Woodside shareholders, operational excellence and disciplined execution of our growth projects.
“I look forward to working closely with the Board and Woodside’s strong leadership team to continue building a leading global energy company that delivers long-term value for shareholders, underpinned by a consistent focus on sustainability and high performance.”
Under her employment terms, Westcott will receive a Fixed Annual Reward (FAR) of $2.3 million, inclusive of base salary, benefits and allowances, and statutory superannuation.
Her remuneration package includes eligibility for both short- and long-term incentives from FY2026.
Westcott holds a Bachelor of Commerce and a Bachelor of Civil Engineering from the University of Melbourne and is a graduate of the Australian Institute of Company Directors.
She also serves on the Board of Australian Energy Producers.
Her appointment marks a new phase for the company as it faces a softer production outlook, with the company reporting lower output guidance for 2026. The company also seeks to balance growth ambitions with sustainability imperatives across its global portfolio.