California Resources Corporation Welcomes Clio Crespy as CFO
Portfolio - People | Nov 25, 2024 | EIN
California Resources Corporation (CRC), an independent energy and carbon management company, announced the appointment of Clio C. Crespy as its new Executive Vice President and Chief Financial Officer, effective January 1, 2025. Ms. Crespy succeeds the current CFO, Nelly Molina, who will step down at year-end. Crespy brings a wealth of experience from her previous role as Senior Managing Director at Guggenheim Securities and her work at Evercore and BNP Paribas, focusing on energy, power, carbon management, and sustainability sectors. CRC's CEO, Francisco Leon, expressed confidence in Crespy's vast industry experience, especially in M&A, corporate finance, and project finance, to further CRC's strategic objectives. CRC aims to enhance value creation through its initiatives like the Carbon TerraVault project, with a commitment to environmental stewardship and energy transition.
Sectors
- Energy
- Investment Banking & Finance
Geography
- United States – The article is set in the US, as California Resources Corporation is based in California.
Industry
- Energy – California Resources Corporation operates within the energy sector, focusing on responsible energy sourcing and carbon management.
- Investment Banking & Finance – Clio Crespy's extensive background in investment banking, particularly within energy and power, is highlighted in the article.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| California Resources Corporation | Target Company | Company | An independent energy and carbon management company focused on energy transition and sustainability. |
| Clio C. Crespy | Incoming CFO | Person | Appointed CFO of CRC, with a background in investment banking and sustainability. |
| Nelly Molina | Outgoing CFO | Person | Outgoing Chief Financial Officer of CRC, leaving at the end of the year. |
| Guggenheim Securities | Former Company of Incoming CFO | Company | Investment banking firm where Clio Crespy was a Senior Managing Director. |
| Evercore | Former Company of Incoming CFO | Company | Investment bank where Clio Crespy served as Managing Director advising on strategic and financial transactions. |
| BNP Paribas | Former Company of Incoming CFO | Company | A banking organization where Clio Crespy worked before joining CRC. |
| Francisco Leon | CEO of CRC | Person | CEO of California Resources Corporation, expressed enthusiasm for Crespy's appointment. |