BHP CEO Shift to Brandon Craig with $2.67M Pay, Woodside Names Elizabeth Westcott with 3x Bonus Potential as Copper Deal Faces US Court Blow
Australia’s mining and energy giants have triggered a major leadership reset, with BHP appointing Brandon Craig as its next chief executive officer while Woodside Energy confirmed Elizabeth Westcott as its permanent CEO and managing director. The announcements come with multi-million dollar pay packages, aggressive performance-linked incentives, and a backdrop of legal, political, and operational developments shaping both companies’ outlook.
The twin leadership changes are not isolated corporate updates. They arrive at a time when both companies are navigating critical turning points — from copper expansion and legal setbacks in the United States to long-term LNG project execution and regulatory approvals in Australia.
BHP promotes Brandon Craig with aggressive bonus structure
BHP confirmed that Brandon Craig will take over as CEO from July, replacing Mike Henry, who has led the company since 2020. Craig is a long-time insider, having joined the Melbourne-based mining giant in 1999. He currently serves as President Americas, where he has been responsible for driving growth strategy across key future-facing commodities including copper and lithium.
During Craig’s tenure in the Americas division, BHP strengthened its position to become the world’s largest copper producer — a milestone that aligns with the company’s long-term focus on electrification and energy transition demand.
His compensation package reflects both scale and expectations. Craig will receive a base salary of US$1.9 million (approximately $2.67 million), along with an additional 10% of base pay allocated toward superannuation. However, the real upside lies in performance-linked incentives.
Under BHP’s incentive framework, Craig could earn up to 3.6 times his base salary through a combination of cash bonuses and share-based rewards. Additionally, his total earnings have the potential to double annually if performance targets are met, highlighting the company’s strong pay-for-performance structure.
Despite the lucrative package, Craig’s potential earnings still fall below those of his predecessor. Mike Henry received $19 million in realised pay in the last financial year, ranking him among the highest-paid CEOs in ASX-listed companies.
Copper deal setback and political heat add pressure
The leadership transition comes at a sensitive time for BHP. Just a day before the CEO announcement, a joint copper mining venture between BHP and Rio Tinto faced a major legal setback in the United States.
The US Federal Court blocked the companies’ attempt to acquire land in Arizona from the US Forest Service. The project had been challenged by Native American groups and environmental activists, raising concerns over land rights and environmental impact.
The ruling quickly escalated into a political issue. Former US President Donald Trump criticised both the court decision and the activists involved, calling them “anti-American” and part of the “Radical Left.”
The episode underscores the growing complexity of large-scale mining projects, where regulatory hurdles, community opposition, and political pressure can directly influence timelines and investment outcomes. For Craig, stepping into the CEO role during such developments adds an immediate layer of challenge.
Woodside confirms Elizabeth Westcott after interim role
Meanwhile, Woodside Energy has removed uncertainty around its leadership by appointing Elizabeth Westcott as its permanent CEO and managing director. Westcott had been serving as acting CEO since December, following the sudden departure of Meg O’Neill, who left to join BP in the same role.
Westcott joined Woodside in June 2023 and has already led critical parts of the business, including Australian operations. Her responsibilities have included oversight of the Scarborough Energy Project and the transition of operatorship in the Bass Strait — both significant components of Woodside’s production and growth strategy.
Her appointment signals continuity in operational execution at a time when the company is advancing large-scale LNG developments and navigating long-term energy demand dynamics.
$2.3 million pay with up to 3x long-term incentives
Westcott’s compensation package also reflects strong performance incentives. Her fixed annual reward (FAR) is set at $2.3 million, covering base salary, benefits, allowances, statutory superannuation, and director fees.
On top of that, she is eligible for substantial performance-linked bonuses. Her short-term incentive can reach up to 2.7 times her FAR, while long-term incentives can go as high as three times her FAR. This structure places a significant portion of her total earnings at risk, depending on company performance and strategic delivery.
The compensation design aligns with Woodside’s need to execute complex projects efficiently while maintaining shareholder returns in a volatile energy market.
North West Shelf approval strengthens Woodside’s position
Westcott takes charge at a crucial moment for Woodside, particularly following a major regulatory win in September 2025. The company secured approval from the Environmental Protection Authority for a 40-year extension of its North West Shelf gas project off the northern coast of Western Australia.
The approval significantly strengthens Woodside’s long-term production outlook and reinforces its position as a key LNG supplier. However, it also places greater responsibility on leadership to deliver sustained operational performance while managing environmental expectations and stakeholder scrutiny.
Leadership changes signal execution-focused strategy
Both BHP and Woodside have opted for leaders with deep internal experience rather than external hires. That decision highlights a broader trend across the resources sector, where boards are prioritising operational expertise and continuity over disruptive strategic shifts.
For BHP, the focus remains on scaling copper and lithium while navigating geopolitical and regulatory risks. For Woodside, the priority lies in delivering major gas projects and capitalising on long-term LNG demand.
With multi-million dollar compensation tied heavily to performance, both Brandon Craig and Elizabeth Westcott now face immediate pressure to deliver results. Investors will be closely watching execution, capital allocation, and how each leader responds to evolving market and regulatory challenges.
The next phase for both companies is not just about leadership — it is about proving that these appointments can translate into sustained growth, resilience, and shareholder value in an increasingly complex global resources landscape.
In other major developments across Australia, readers can also check the latest Oz Lotto results for 17 March 2026 here.
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