Woodside Power Group Ltd on Wednesday introduced a brand new chief govt in Elizabeth Westcott, who has already been serving in that capability since late final yr on an interim foundation.
The Australian liquefied pure gas-focused producer picked from inside its ranks to exchange Meg O’Neill, whom BP named CEO and successor for the resigned Murray Auchincloss on December 17, 2025. O’Neill is scheduled to take over at BP subsequent month.
“Liz’s [Westcott] confirmed observe file of excellent strategic management and disciplined supply distinguished her because the board’s high candidate for this position”, Woodside chair Richard Goyder stated in an organization assertion.
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Westcott, concurrently appointed managing director, stated, “My focus as CEO is on sustainable worth creation for Woodside shareholders, operational excellence and disciplined execution of our development tasks”.
Woodside stated, “Since becoming a member of the corporate in June 2023, Ms Westcott has led Woodside’s Australian operations, together with the Scarborough Power Venture and Bass Strait operator transition, as Government Vice President and Chief Working Officer Australia”.
Earlier than becoming a member of Woodside, Westcott was chief working officer at EnergyAustralia. Westcott’s profession additionally included a 25-year spell at ExxonMobil, Woodside famous. Westcott additionally serves on the board of Australian Power Producers.
She holds bachelor’s levels in commerce and civil engineering from Melbourne College and is a graduate of the Australian Institute of Firm Administrators, Woodside stated.
“Ms Westcott’s fastened annual reward (FAR) on appointment might be AUD 2,300,000 [$1.62 million], which is inclusive of base wage, advantages and allowances, statutory minimal superannuation contributions, director’s charges for all Woodside Group corporations and wage continuance advantages”, Woodside stated.
“Ms Wescott is eligible to obtain variable annual reward, which from FY2026, includes a short-term incentive (STI) and long-term incentive (LTI) element.
“The STI alternative is 180 % of FAR at goal, with a most of 270 % of FAR. The STI might be delivered in two equal parts: money and restricted shares, with the restricted shares topic to a two-year deferral interval. Any portion of the STI award above goal might be delivered totally as restricted shares.
“The LTI alternative is 300 % of FAR, and might be delivered in efficiency rights. Efficiency rights might be examined over a three-year efficiency interval, and might be topic to a further two-year service situation after the tip of the efficiency interval”.
Concurrently Woodside appointed Mark Cutifani, who served as Anglo American chief govt for over 9 years, as an impartial non-executive director. Cutifani joins Woodside’s Audit and Danger Committee, Sustainability Committee and Nominations and Governance Committee.
“He’ll stand for election as a director at Woodside’s 2026 annual common assembly on 23 April 2026”, Woodside stated in a separate assertion.
On Wednesday, Woodside gained 2 cents to AUD 31.44 in closing priced on the Australian Securities Alternate, and settled greater at AUD 33.7 on Thursday. On the New York Inventory Alternate, Woodside additionally closed greater on Wednesday at $22.85.
To contact the writer, e-mail jov.onsat@rigzone.com
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