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Or sign-in if you have an account.BP CEO Meg O’Neill told staff on an April call that she was focused on rebuilding trust with employees, which some said was received well after faith in senior leadership plunged in recent years. Photo by Matt Jelonek/BloombergNew BP PLC chief executive Meg O’Neill reorganized the oil giant’s leadership and reporting structures in an overhaul that cements the company’s focus on oil and gas as it tries to move beyond recent boardroom drama.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorFrom July 1, Gordon Birrell will be executive vice president of upstream, while Richard Harding will take on the same role — in an interim basis — for downstream, the London-based major said in a statement. No job losses were announced.The reorganization, which O’Neill signposted to staff soon after joining, follows a turbulent two weeks for the company that saw the surprise firing of non-executive chairman Albert Manifold. It unwinds structural changes made by then-CEO Bernard Looney in 2020 when he pivoted the firm toward low-carbon ventures and away from fossil fuels. It also moves BP closer to the models of other majors.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againThe new structure, with one operating segment focused on resource development and production, and the other on customers and markets, “will clarify accountabilities and enable faster, more effective decision-making,” O’Neill said in an announcement on Tuesday.O’Neill is under pressure to deliver on a turnaround kicked off by previous CEO Murray Auchincloss last year. The company’s shares had underperformed those of rivals for years, drawing in activist shareholder Elliott Investment Management, which helped to kick start a reboot.BP’s vast trading operation, led by deputy CEO Carol Howle, will work across the two segments, where “it connects the portfolio, optimizes flows and delivers material value uplift,” BP said.Birrell’s operating segment will be in charge of oil and gas exploration, development and production, upstream joint ventures, as well as renewable natural gas, carbon capture and sequestration businesses. He’s been the London-based firm’s top exploration and production executive under multiple CEOs.Harding’s division will include refining, terminals, pipelines, retail fuel stations, biofuels, aviation, hydrogen and lubricants. A recruitment process is underway for a permanent hire to the role. Harding came out of retirement in April.Alongside the two main upstream and downstream segments will be several support functions.Renewables, including solar and offshore wind, will sit within a technology function led by Emeka Emembolu, executive vice president of technology.The reorganization is designed to clarify who owns what, speed up decision-making and make BP easier to understand both internally and externally, the CEO told employees in an internal message on Tuesday seen by Bloomberg.More changes are expected to roles and team sizes, which BP leaders will share with staff as they develop, O’Neill told employees in the message.Howle was already elevated from running trading to O’Neill’s deputy, an expanded remit that added oversight of the company’s ongoing portfolio review and strategy development to her responsibilities. She also occupied the position of interim CEO following the unexpected ouster of Auchincloss before O’Neill arrived.BP’s revamped company structure comes after the shock sacking of Manifold in late May — about eight months after he joined and soon after the major hired O’Neill, Big Oil’s first female CEO.O’Neill and the rest of the board voted unanimously to remove him due to concerns about “governance standards, oversight and conduct.” Manifold contests BP’s version of events.O’Neill told staff on an April call that she was focused on rebuilding trust with employees, which some said was received well after faith in senior leadership plunged in recent years, people familiar with the matter said at the time.She’s been given a tailwind at the start of her tenure, with energy market volatility caused by the Iran war contributing to a surge in profits from BP’s trading operation.Meanwhile, the company is continuing its strategic pivot back to oil and gas. Priorities include selling under-performing assets, paying down debt and reducing costs. BP suspended its share buyback program in February before O’Neill arrived.“This organizational change builds on the concrete actions BP is taking to simplify its portfolio, reduce costs, maintain tight capex discipline and strengthen its balance sheet – all in service of growing value and returns for shareholders,” BP said Tuesday. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.