BHP and Woodside Energy announce new CEOs amid leadership transitions and corporate updates
Consensus Summary
BHP and Woodside Energy announced leadership changes in 2025, with Brandon Craig taking over as BHP’s CEO from Mike Henry on July 1, 2025, after a six-and-a-half-year tenure. Craig, who previously led BHP’s Americas operations and iron ore division in Western Australia, will earn a base salary of $1.9 million USD, significantly less than Henry’s $19 million in realized pay last year. Woodside Energy named Elizabeth Westcott as its permanent CEO, succeeding Meg O’Neill, with Westcott’s compensation package including a $2.3 million fixed annual reward and performance-based bonuses. Both appointments coincide with major corporate milestones: BHP’s growth as the world’s largest copper producer under Henry and Woodside’s 40-year extension for its North West Shelf gas project. The leadership transitions reflect internal promotions, with Craig and Westcott both having extensive experience within their respective companies. Additionally, BHP faced a setback in a joint copper mining venture with Rio Tinto in Arizona, blocked by a federal court over environmental and Native American concerns, which drew criticism from former President Donald Trump.
✓ Verified by 2+ sources
Key details reported by multiple sources:
- Brandon Craig will become BHP’s chief executive and director from July 1, 2025, succeeding Mike Henry
- Mike Henry served as BHP’s CEO since 2020 and oversaw the company becoming the world’s largest copper producer
- Brandon Craig previously held the role of BHP Americas president and led the company’s iron ore operations in Western Australia
- BHP’s market value makes it one of Australia’s biggest companies by market capitalization
- Elizabeth Westcott was appointed Woodside Energy’s permanent CEO and managing director in 2025, succeeding Meg O’Neill
- Elizabeth Westcott has served as Woodside’s acting CEO since December 2024 and previously worked at ExxonMobil for 25 years
- Woodside’s North West Shelf gas project received a 40-year extension approval in September 2025 from the Environmental Protection Authority
Points of Difference
Details reported by only one source:
- Brandon Craig stated in a statement: ‘It is an honour and privilege to succeed Mike Henry as CEO of BHP. Thanks to his leadership, BHP is well positioned for the future’
- BHP’s succession process for the CEO role was described as formal
- Brandon Craig’s base salary will be $1.9 million USD ($2.67 million AUD), with 10% allocated to superannuation and potential bonuses up to 3.6 times his base salary
- 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
- Brandon Craig’s performance targets could double his salary annually if met, with incentives including cash and shares
- Elizabeth Westcott’s ‘fixed annual reward’ (FAR) is $2.3 million, including base salary, benefits, and performance-based bonuses up to 2.7 times FAR (short-term) and 3 times FAR (long-term)
- Woodside’s Scarborough Energy Project and Bass Strait operator transition were led by Elizabeth Westcott during her tenure as acting CEO
- A joint copper mining venture between BHP and Rio Tinto was blocked by the US Federal Court in Arizona due to a challenge from Native Americans and environmental groups, drawing criticism from former US President Donald Trump
- Elizabeth Westcott joined Woodside in June 2023 and previously held roles at EnergyAustralia and ExxonMobil in Australia, the UK, and Italy
Contradictions
Conflicting information between sources:
- No contradictions found between the two sources on core factual claims
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