BHP and Woodside Energy appoint new CEOs amid leadership transitions and compensation details
Consensus Summary
BHP and Woodside Energy have announced leadership transitions with Brandon Craig taking over as BHP’s CEO on July 1, 2025, succeeding Mike Henry who led the company since 2020. Craig’s base salary is set at $1.9 million USD with substantial performance-based bonuses, while Woodside named Elizabeth Westcott as its permanent CEO, succeeding Meg O’Neill. Westcott’s fixed annual reward is $2.3 million with potential bonuses up to 2.7 times her FAR. Both appointments come amid significant industry shifts, including Woodside’s 40-year extension for its North West Shelf gas project and BHP’s recent involvement in a blocked copper mining venture in Arizona. The leadership changes reflect strategic pivots toward future-facing commodities like copper and lithium for BHP, and operational expansions for Woodside. Both new CEOs bring extensive experience, with Craig overseeing Americas operations and Westcott leading Australian operations and having a background at ExxonMobil.
✓ Verified by 2+ sources
Key details reported by multiple sources:
- Brandon Craig will become BHP’s CEO on July 1, 2025, succeeding Mike Henry who held the role since 2020
- Brandon Craig’s base salary will be $1.9 million USD ($2.67 million AUD) annually with 10% allocated to superannuation
- BHP’s incentive schemes allow Brandon Craig to earn up to 3.6 times his base salary in bonuses (cash and shares) if performance targets are met
- Elizabeth Westcott was named Woodside Energy’s permanent CEO and managing director, succeeding Meg O’Neill who left for BP in December 2024
- Elizabeth Westcott’s fixed annual reward (FAR) will be $2.3 million, including base salary, benefits, and performance-based bonuses
- Elizabeth Westcott previously served as Woodside’s acting CEO since December 2024 and led Australian operations including the Scarborough Energy Project
- Mike Henry earned $19 million in ‘realised pay’ in the 2023–24 financial year, ranking him as the sixth-highest paid CEO in the ASX 200
- Woodside secured a 40-year extension for its North West Shelf gas project in September 2025, approved by the Environmental Protection Authority
Points of Difference
Details reported by only one source:
- Brandon Craig’s salary could be doubled annually if he achieves performance targets
- BHP’s leadership change followed a US Federal Court blocking a joint copper mining venture between BHP and Rio Tinto in Arizona due to Native American and environmental group challenges
- US President Donald Trump criticized the court and activists as ‘anti-American’ and ‘Radical Left’ after the Arizona mining venture was blocked
- Brandon Craig’s predecessor, Mike Henry, was in the top job for six and a half years
- Brandon Craig’s promotion came after he led BHP’s growth strategy for copper and lithium, making BHP the world’s largest copper producer during his tenure
- Elizabeth Westcott’s long-term incentive could be valued at up to three times her FAR ($6.9 million)
- Elizabeth Westcott has a 25-year career background including roles at ExxonMobil in Australia, the UK, and Italy
Contradictions
Conflicting information between sources:
- No contradictions found between the two sources
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