BP PLC's new Chief Executive, Meg O'Neill, has acknowledged that the oil major still needs to work on simplifying its decision-making processes and earning back investor confidence. She made these remarks as she reached the 100-day mark in her role.

In a post on LinkedIn on Thursday, O'Neill stated: "We must be disciplined and selective in our investment choices, focusing on the best projects and exercising restraint. Investors should be able to trust us as much as our customers do."

She indicated that her decisions to simplify the company's structure have so far helped BP PLC navigate the impacts of the conflict in Iran. As the first female CEO of a major oil company, O'Neill noted that the trading and shipping divisions have collaborated with refining teams to actively manage the crisis.

She highlighted specific responses, including shipping millions of liters of diesel from the United States to Australia and increasing aviation fuel production at a refinery in Spain.

In her Thursday post, O'Neill wrote: "We are accelerating our simplification efforts, consolidating BP into two core segments—Upstream and Downstream—and leveraging our trading business to connect these segments and create value."

Analysts have observed that supply disruptions and rising oil prices stemming from the U.S.-Iran conflict have boosted BP PLC's short-term performance, aiding the company in easing its operational challenges.

This past Wednesday, renewed attacks between the U.S. and Iran escalated tensions in the Middle East, causing international oil prices to surge.

Last month, O'Neill announced a reorganization of management and reporting structures, a move that reinforces the company's focus on its core oil and gas business.

She has not yet released long-term strategic goals; the current strategic plan she inherited runs through 2027. However, her Thursday post clarified her immediate priorities.

O'Neill did not mention former Chairman Albert Manifold in her Thursday remarks. Manifold was unexpectedly ousted in May of this year.

It has been reported that during his tenure, Manifold was involved in the departure of the then-CEO, and he led the board in appointing O'Neill as the new CEO, making her the first female leader in BP's history and among the world's five largest oil majors.

Manifold's exit marks another significant event in the ongoing management turbulence at BP PLC. Over the past several years, the company has seen three different CEOs.

This latest leadership change has once again raised market concerns about the company's internal governance mechanisms, especially as Manifold was previously seen as a key figure in accelerating BP's strategic reset.

For years, BP PLC's share price has underperformed compared to its peers, a situation that attracted activist investor Elliott Investment Management, which has pushed for the company's restructuring.

Year-to-date, BP PLC shares are up nearly 16%. In comparison, Exxon Mobil Corp. is up 19%, TotalEnergies SE is up 25%, Chevron Corp. is up 18%, and Shell PLC is up 14%.