Injuries sidelined Davis and James for stretches of the season and prevented the trio from finding a rhythm.
The veteran squad, which was the oldest in the league with an average age of 30, ultimately missed the playoffs.
The Lakers parted ways with Frank Vogel at the end of the season despite the head coach having led the team to a championship inside the NBA Bubble during the coronavirus pandemic in 2020.
O’Neal said Mark Jackson, who infused a young Golden State Warriors team with confidence that later helped them flourish into a dynasty under Steve Kerr, would be his pick to replace Vogel.