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, replacing Mike Henry, who earned $19 million in 2023–24. Craig’s base salary is set at $1.9 million USD with performance-linked bonuses potentially tripling his earnings, though still less than Henry’s previous compensation. Meanwhile, Elizabeth Westcott was permanently appointed as Woodside’s CEO, succeeding Meg O’Neill, with a $2.3 million fixed annual reward and substantial performance-based incentives. Both appointments follow internal promotions, with Craig previously leading BHP’s Americas division and Westcott acting as CEO since December 2024. The changes coincide with Woodside securing a 40-year extension for its North West Shelf gas project and BHP navigating a US court rejection of a joint copper mining venture with Rio Tinto, which drew criticism from former President Donald Trump.
✓ 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 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 in 2025, succeeding Meg O’Neill
- Westcott’s fixed annual reward (FAR) is $2.3 million, including base salary, benefits, and statutory superannuation contributions
- Westcott’s performance-based bonuses could reach up to 2.7 times her FAR (short-term) and 3 times her FAR (long-term)
- Westcott previously served as acting CEO since December 2024 and led Woodside’s 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 ASX 200 CEO
Points of Difference
Details reported by only one source:
- Craig’s salary could double 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 challenges
- US President Donald Trump criticized the court and activists as ‘anti-American’ and ‘Radical Left’
- Woodside’s North West Shelf gas project received a 40-year extension approved by the Environmental Protection Authority in September 2025
- Craig’s promotion came after he led BHP’s growth strategy for copper and lithium, making BHP the world’s largest copper producer
- Craig joined BHP in 1999 and previously led iron ore operations in Western Australia
- Westcott’s FAR includes directors’ fees and statutory minimum superannuation contributions
- Westcott’s background includes a 25-year career at ExxonMobil across Australia, the UK, and Italy
Contradictions
Conflicting information between sources:
- No contradictions found between the two sources for the core facts
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