MELBOURNE: Woodside Energy has appointed Elizabeth “Liz” Westcott as its new Chief Executive Officer and Managing Director, ending a global search and confirming the interim leader in the top job permanently.
The Board of the Australian oil and gas giant announced the decision on Wednesday, citing Westcott’s more than three decades of experience in the global energy industry and her proven leadership since taking over as Acting CEO in December 2025.
Westcott stepped into the interim role following the departure of former CEO Meg O’Neill. She will now lead Woodside on a permanent basis as the company navigates a period of significant transition and works to position itself to meet growing global energy demand.
“Liz’s proven track record of outstanding strategic leadership and disciplined delivery distinguished her as the Board’s top candidate for this role,” Woodside Chair Richard Goyder said in a statement. He added that her appointment reflects the depth of executive talent at Woodside, resulting from the Board’s succession planning.
Westcott has been with Woodside since June 2023, most recently serving as Executive Vice President and Chief Operating Officer for Australia. In that role, she oversaw the company’s Australian operations, including the massive Scarborough Energy Project and the Bass Strait operator transition.
Prior to joining Woodside, Westcott was the Chief Operating Officer at EnergyAustralia. She also spent 25 years at ExxonMobil, working in senior roles across Australia, the United Kingdom, and Italy, including a stint as Managing Director of Adriatic LNG.
“I am honoured to lead Woodside,” Westcott said. “My focus as CEO is on sustainable value creation for Woodside shareholders, operational excellence and disciplined execution of our growth projects.”
In a separate appendix, Woodside detailed the material terms of Westcott’s employment agreement. Her Fixed Annual Reward (FAR) will be A$2.3 million, inclusive of base salary, benefits, and superannuation.
Westcott will be eligible for a variable annual reward comprising both short-term (STI) and long-term (LTI) incentives. The STI target has been set at 180% of FAR, with a maximum of 270%. The LTI opportunity is 300% of FAR and will be delivered in Performance Rights subject to a three-year performance period and an additional two-year service condition.