---
schema_version: "secwatch.filing_event.v1"
accession: "0001609253-23-000063"
form_type: "8-K"
ticker: "CRC"
cik: "0001609253"
company_name: "California Resources Corp"
filed_at: "2023-06-16T23:59:59+00:00"
generated_at: "2026-06-13T22:47:02.609380+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# CRC COO Shawn Kerns to retire July 31; Omar Hayat named EVP-Operations

## Summary
- Shawn Kerns, EVP and COO, retires effective July 31, 2023; departure not due to any dispute.
- Omar Hayat appointed EVP-Operations effective June 19, 2023; previously SVP Operations.
- Hayat receives $400,000 base salary, 100% target bonus, and LTIP with target value of 400% of base salary.
- Hayat's LTIP awards expected as 60% PSUs (3-year cliff) and 40% RSUs (3-year ratable vest).
- Hayat will also enter into standard indemnification agreement with the Company.

## SEC filing metadata
- accession: 0001609253-23-000063
- form_type: 8-K
- ticker: CRC
- cik: 0001609253
- company_name: California Resources Corp
- filed_at: 2023-06-16T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1609253/000160925323000063/0001609253-23-000063-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1609253/000160925323000063/crc-20230616.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001609253-23-000063
- JSON: https://secwatch.observer/filing/0001609253-23-000063.json
- Plain text: https://secwatch.observer/filing/0001609253-23-000063.txt

## Key facts
- Executive change
  Shawn Kerns departed as Executive Vice President and Chief Operating Officer at California Resources Corp.
  - Action: retire
  - Role: Executive Vice President and Chief Operating Officer
  source text: On June 16, 2023, California Resources Corporation (the “Company”) announced that Shawn Kerns, Executive Vice President and Chief Operating Officer, will retire from the Company effective as of July 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1609253/000160925323000063/0001609253-23-000063-index.htm
- Executive change
  Omar Hayat was appointed as Executive Vice President – Operations at California Resources Corp.
  - Action: appointed
  - Role: Executive Vice President – Operations
  source text: On June 16, 2023, Omar Hayat was appointed as Executive Vice President – Operations, effective as of June 19, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1609253/000160925323000063/0001609253-23-000063-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.