Media reports are mixed as to whether nightwatchman CEO Keith Spence will have his role formalised or new blood with greater international experience will be introduced. The need for a greater international perspective has been one of the key factors in the search, according to past statements by chairman Charles Goode.

At the conclusion of a two day board meeting commencing tomorrow, Woodside is expected to announce the new managing director in addition to a profit drop which some have tipped to be as high as 35%.

Broking research indicates Woodside will report a 2003 net profit ranging from $476 million to $564 million, with most forecasts aiming at around the $518 million mark.

Woodside posted a $729 million profit in 2002.