Murray Auchincloss

Murray Auchincloss
Born	Murray Michael Auchincloss Template:Birth year and age
Nationality	Canadian
Occupation	Business executive
Title	Former Group CEO, BP
Known for	Chief executive of BP (2024–2025)
Website	[https://www.bp.com/en/global/corporate/who-we-are/board-and-executive-management/the-board/murray-auchincloss.html Official site]

Murray Michael Auchincloss (born 1970) is a Canadian business executive who served as the chief executive officer of BP, one of the world's largest oil and gas companies, from January 2024 to December 2025. His ascent to the top of BP came under extraordinary circumstances — he was elevated to the role of interim CEO in September 2023 after the abrupt resignation of his predecessor, Bernard Looney, who departed amid revelations about undisclosed personal relationships with colleagues. Auchincloss was confirmed as permanent CEO in January 2024, inheriting a company at a strategic crossroads between its legacy fossil fuel operations and an ambitious green energy transition agenda. During his tenure, Auchincloss announced a significant recalibration of BP's energy strategy, scaling back investments in renewable energy and increasing spending on oil and gas production. He stepped down as CEO in December 2025 following pressure from activist investors, including the American hedge fund Elliott Management, and was succeeded by Meg O'Neill, the former chief executive of Woodside Energy.

Career

Early career at BP

Murray Auchincloss spent a significant portion of his professional career at BP, rising through the company's financial and operational ranks over a period of more than two decades. Prior to assuming the role of chief executive, Auchincloss served as BP's chief financial officer (CFO), a position in which he played a central role in managing the company's finances during a period of considerable volatility in global energy markets, including the COVID-19 pandemic and the subsequent recovery in oil prices. As CFO, he was a key figure in the company's executive management team and worked closely with then-CEO Bernard Looney on BP's strategic direction, including its high-profile commitment to achieving net-zero carbon emissions by 2050.

Appointment as interim CEO

On 12 September 2023, Bernard Looney resigned as CEO of BP after acknowledging that he had not been "fully transparent" about the nature of past personal relationships with colleagues when the matter was first raised by the company's board. The revelation came after BP had initially investigated the relationships in 2022 and Looney had provided assurances to the board at that time. However, further information subsequently came to light that contradicted those earlier assurances, prompting the board to accept Looney's resignation.

Auchincloss was immediately appointed as interim CEO in the wake of Looney's departure. The appointment reflected the board's confidence in his deep institutional knowledge and his experience as CFO. During the interim period, Auchincloss was tasked with maintaining stability at BP and continuing the company's operations while the board conducted a formal search process for a permanent successor.

It was reported by The Times that Auchincloss was himself in a personal relationship with a BP colleague, a fact that was disclosed to the company's board. Unlike the situation with Looney, the board was reportedly satisfied that the relationship had been properly declared and did not present a conflict of interest.

Permanent appointment as CEO

On 17 January 2024, BP's board confirmed Murray Auchincloss as the company's permanent chief executive officer. The announcement followed a months-long search process and came approximately four months after Looney's departure. The decision to appoint an internal candidate signaled the board's preference for continuity during a period of strategic transition for the company.

The appointment was covered extensively by financial media. Euronews reported that Auchincloss's confirmation provided "much-needed clarity" for BP at a time when the company was facing questions about its strategic direction, particularly regarding the balance between its traditional oil and gas operations and its investments in low-carbon energy.

One of the early decisions Auchincloss faced as permanent CEO concerned the handling of executive remuneration related to his predecessor. In March 2024, it was reported that BP had decided to withhold certain bonuses and executive pay entitlements from Bernard Looney following his departure. The decision underscored the seriousness with which the board viewed the circumstances of Looney's resignation.

Strategic pivot on energy transition

One of the most consequential decisions of Auchincloss's tenure was a significant strategic reorientation of BP's approach to the energy transition. Under Bernard Looney, BP had adopted an ambitious agenda to reduce its oil and gas production and invest heavily in renewable energy, positioning the company as a leader among European oil majors in the shift toward low-carbon energy. However, under Auchincloss's leadership, BP announced in February 2025 that it would increase spending on oil and gas production while scaling back its investments in green energy.

The announcement marked a notable departure from the strategy that Looney had championed from 2020 onwards. According to The Guardian, BP indicated that it would direct more capital toward its upstream oil and gas assets, viewing them as essential to generating the cash flows needed to fund future investments, including a more selective approach to renewable energy projects. The shift was consistent with a broader trend among European energy companies at the time, as firms such as Shell also reconsidered the pace and scale of their green energy commitments in the face of investor pressure for higher near-term returns.

According to The Times, the origins of the tensions surrounding BP's strategy dated back to the summer of 2020, when BP first announced its ambitious net-zero targets under Looney. While the strategy was praised by environmental advocates, it generated concern among some shareholders and analysts who questioned whether the company was moving too aggressively away from its core business at a time of uncertainty in global energy markets.

Activist investor pressure and departure

By early 2025, Auchincloss faced mounting pressure from activist investors, most notably the American hedge fund Elliott Management, which had taken a significant stake in BP. Elliott and other shareholders pushed for the company to adopt a more aggressive approach to cost-cutting and to refocus its strategy around its traditional oil and gas operations. Bloomberg News reported in February 2025 that Auchincloss faced a "make-or-break moment" as Elliott's involvement intensified scrutiny of BP's performance and strategic direction.

The Financial Times reported that the board had come under increasing pressure regarding Auchincloss's suitability to lead the next phase of BP's transformation, with some investors questioning whether a more radical overhaul of the company's operations and cost structure was needed.

On 17 December 2025, BP announced that Auchincloss would step down as chief executive officer and director of the board. The company simultaneously announced that Meg O'Neill, the chief executive of Australian energy company Woodside Energy, had been appointed as BP's next CEO, effective 1 April 2026. Auchincloss's departure was effective on 18 December 2025, making his total time as permanent CEO less than two years.

The departure was described as a "shock" by several media outlets. MSN reported that Auchincloss "stepped down after less than two years in charge of the oil giant, following pressure from activist investors." Bloomberg News characterized the CEO swap as "the shock investors wanted to see," noting that BP's share price rose following the announcement.

CNBC reported that O'Neill's appointment made her BP's fourth CEO in six years, underscoring the turbulence at the top of the company since the departure of Bob Dudley in 2020. BP's share price rose more than 15% year-to-date at the time of the announcement, with further gains in after-hours trading as investors responded positively to the leadership change.

Context within BP's leadership instability

Auchincloss's departure was part of a broader pattern of leadership instability at BP during the 2020s. Bernard Looney served as CEO from February 2020 to September 2023 before resigning under pressure. Auchincloss then served as interim CEO from September 2023, was confirmed as permanent CEO in January 2024, and stepped down in December 2025. Meg O'Neill was appointed as his successor, becoming the company's fourth chief executive in approximately six years.

The BBC reported on the circumstances surrounding the leadership change, noting the significant role that Elliott Management's activist campaign had played in accelerating the timeline for a change at the top of the company.

Personal Life

Murray Auchincloss holds Canadian citizenship. During his tenure as CEO of BP, it was reported by The Times that he was in a personal relationship with a colleague at the company. Unlike the undisclosed relationships that led to the resignation of his predecessor Bernard Looney, Auchincloss's relationship was declared to BP's board and was deemed by the board to have been properly disclosed and not to present a conflict of interest.

Legacy

Murray Auchincloss's tenure as CEO of BP, while lasting less than two years, encompassed a period of significant strategic reorientation for one of the world's largest energy companies. His most notable decision — to scale back BP's investments in renewable energy and increase spending on oil and gas production — represented a reversal of the direction set by his predecessor and was emblematic of a broader reassessment among European oil majors of the pace of the energy transition.

His departure under pressure from activist investors, particularly Elliott Management, highlighted the growing influence of shareholder activism in the energy sector and the challenges faced by CEOs in balancing short-term financial returns with longer-term energy transition commitments. The positive market reaction to news of his departure and the appointment of Meg O'Neill suggested that investors had concluded a change in leadership was necessary for BP to execute its strategy effectively.

The Times described the trajectory of Auchincloss's time at BP as one in which the CEO was "on borrowed time," arguing that the strategic tensions he inherited from the Looney era — and the expectations of activist investors — created a set of challenges that proved difficult to navigate. The Financial Times noted that his replacement after less than two years marked a rare instance of a major FTSE 100 company making such a swift change at the top and reflected the intensity of the pressures facing leaders of large energy companies during a period of transition in global energy systems.