BHP and Woodside Energy appoint new CEOs amid leadership transitions and compensation details
Consensus Summary
BHP and Woodside Energy have announced leadership changes with Brandon Craig taking over as BHP’s CEO on July 1, 2025, replacing Mike Henry who led the company since 2020. Craig’s appointment follows a succession process and comes with a base salary of $1.9 million USD, plus performance-linked bonuses that could total up to 3.6 times his base pay. Woodside Energy named Elizabeth Westcott as its permanent CEO, succeeding Meg O’Neill, with a fixed annual reward of $2.3 million and substantial performance-based incentives. Both appointments reflect strategic continuity as BHP and Woodside navigate industry shifts, with Craig’s experience in copper and lithium production and Westcott’s operational leadership in Australian energy projects highlighted. The changes coincide with Woodside securing a 40-year extension for its North West Shelf gas project, while BHP faces ongoing regulatory challenges in the US over mining ventures. Both new CEOs bring extensive industry backgrounds, with Craig’s tenure at BHP spanning over two decades and Westcott’s prior roles at ExxonMobil and EnergyAustralia.
✓ 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 appointed Woodside Energy’s permanent CEO and managing director in 2025, succeeding Meg O’Neill
- Elizabeth Westcott’s fixed annual reward (FAR) is $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 2023–2024 financial year, ranking him as the sixth-highest paid CEO on the ASX 200
Points of Difference
Details reported by only one source:
- Brandon Craig’s salary could double annually if he achieves performance targets
- BHP’s board noted Craig led the company to becoming the world’s largest copper producer during his tenure as President Americas
- Craig joined BHP in 1999 and has held roles in iron ore operations in Western Australia
- Woodside’s North West Shelf gas project received a 40-year extension approved by the Environmental Protection Authority in September 2025
- US Federal Court blocked a BHP-Rio Tinto copper mining venture in Arizona due to challenges from Native Americans and environmental groups, angering former President Donald Trump
- Elizabeth Westcott’s long-term incentive could be up to three times her FAR ($6.9 million) if performance targets are met
- Westcott’s background includes a 25-year career at ExxonMobil across Australia, the UK, and Italy, followed by roles at EnergyAustralia
Contradictions
Conflicting information between sources:
- No contradictions found between the two sources for core factual claims
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