---
schema_version: "secwatch.filing_event.v1"
accession: "0001609253-24-000125"
form_type: "8-K"
ticker: "CRC"
cik: "0001609253"
company_name: "California Resources Corp"
filed_at: "2024-11-25T23:59:59+00:00"
generated_at: "2026-05-29T18:52:50.811956+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# California Resources names Clio Crespy as CFO effective Jan 1, 2025; Nelly Molina departs

## Summary
- Appoints Clio Crespy EVP & CFO effective Jan 1, 2025; succeeds Nelly Molina who departs Dec 31, 2024.
- Crespy receives $615K base salary, 100% target bonus, 400% LTI target, and $1.35M initial RSU grant.
- Crespy most recently Senior MD at Guggenheim Securities, advising on energy and sustainability.
- Molina's departure not due to any disagreement with CRC on internal controls or financial statements.
- Employment agreement includes 2-year initial term, severance multiplier of 1.5x (2x upon change in control).

## SEC filing metadata
- accession: 0001609253-24-000125
- form_type: 8-K
- ticker: CRC
- cik: 0001609253
- company_name: California Resources Corp
- filed_at: 2024-11-25T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1609253/000160925324000125/0001609253-24-000125-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1609253/000160925324000125/crc-20241119.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001609253-24-000125
- JSON: https://secwatch.observer/filing/0001609253-24-000125.json
- Plain text: https://secwatch.observer/filing/0001609253-24-000125.txt

## Key facts
- Executive change
  Clio C. Crespy was appointed as Executive Vice President and Chief Financial Officer at California Resources Corp.
  - Action: appointed
  - Role: Executive Vice President and Chief Financial Officer
  source text: Clio C. Crespy will join the Company as Executive Vice President and Chief Financial Officer, effective January 1, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1609253/000160925324000125/0001609253-24-000125-index.htm

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