California Resources Corporation (CRC) has named Clio C. Crespy as its new Chief Financial Officer, effective January 1, 2025, as per the latest press release. Clio Crespy brings with her a wealth of experience, having most recently served as a Senior Managing Director in investment banking at Guggenheim Securities, where she also led the sustainability practice.
Under Crespy's leadership, CRC is expected to benefit from her extensive background in energy, power, carbon management, and sustainability. Her experience includes advising upstream energy companies and power producers on strategic and financial transactions at Evercore and BNP Paribas.
Francisco Leon, President and CEO of CRC, expressed his excitement about Crespy joining the team, emphasizing her deep and varied experience in mergers and acquisitions, capital markets, corporate finance, and project finance. He credited her as a seasoned veteran at the center of both the oil and gas industry and the emerging carbon management business.
Nelly Molina, the current CFO, will be stepping down at the end of the year. Leon took the opportunity to thank Molina for her contributions to the company, particularly in bolstering CRC's balance sheet and navigating the Aera merger.
Crespy also shared her enthusiasm about joining CRC, citing the value-creating catalysts that the company is pursuing and expressing her eagerness to contribute to creating value for CRC shareholders.
CRC, an independent energy and carbon management company committed to energy transition, has been focused on environmental stewardship and providing local, responsibly sourced energy. The company is also actively working on maximizing the value of its land, mineral ownership, and energy expertise for decarbonization by developing carbon capture and storage (CCS) and other emissions-reducing projects. As a result of these announcements, the company's shares have moved -2.6% on the market, and are now trading at a price of $58.05. Check out the company's full 8-K submission here.
