California Resources Corp. (CRC) has named Clio C. Crespy as the company’s executive vice president and CFO, effective Jan. 1, 2025, according to a Nov. 25 press release.

Crespy is succeeding current CFO Nelly Molina. She holds a background in investment banking in energy, power, carbon management and sustainability sectors.

Crespy has worked on some of CRC’s “most significant” projects including the Carbon TerraVault joint venture and the direct air capture hub at Elk Hills, said Francisco Leon, CEO of California Resources.

She most recently served as senior managing director of investment banking for global energy & power at Guggenheim Securities, where she also led its sustainability practice. Prior to Guggenheim, Crespy advised upstream energy companies and power producers on strategic and financial transactions at Evercore as managing director, CRC said in the release.

"With [Crespy’s] deep and varied experience in M&A, capital markets, corporate finance and project finance, she will play a major role in setting our path and driving us forward. I also want to thank Nelly Molina for her contributions to the company as we have bolstered our balance sheet and navigated the Aera merger,” Leon said.