8-K: CRC Appoints Michael Helm as New Principal Accounting Officer

California Resources Corporation announces the appointment of Michael Helm as its new Principal Accounting Officer, succeeding retiring Noelle Repetti.

Summary

• Michael Helm has been appointed as the Company's Vice President Finance and Controller, and will serve as the Company's principal accounting officer effective as of March 16, 2026.
• Mr. Helm, age 58, previously served as the Company's Vice President Finance, Oil and Gas following the closing of the Company's merger with Berry Corporation (bry) in December 2025.
• He led Berry's accounting function as its Chief Accounting Officer since 2017 and also served as Chief Financial Officer from January 2023 through January 2025.
• Prior to joining Berry, Mr. Helm was the Vice President and Corporate Controller of CRC from 2014 to 2017.
• He previously served as Assistant Controller for Occidental Petroleum Corporation from 2007 to 2014 and Director of Internal Audit for K2 Inc. from 2003 to 2007.
• Mr. Helm began his career as an auditor at Ernst & Young in 1990 and has been an actively licensed CPA since 1993.
• Noelle Repetti, the Company's Senior Vice President and Controller, is retiring effective as of March 16, 2026, after more than 11 years of dedicated service.
• Ms. Repetti's departure did not result from any dispute or disagreement with the Company.
• In connection with Mr. Helm's appointment, the Company will enter into an Indemnification Agreement with him, agreeing to indemnify him to the fullest extent permitted under Delaware law.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a positive and well-managed transition, with a highly experienced individual stepping into a critical financial role, ensuring stability post-merger.

Positives

• The appointment of Michael Helm brings extensive experience to the Principal Accounting Officer role, including prior service at CRC, Berry Corporation, and Occidental Petroleum Corporation.
• Mr. Helm's background as a licensed CPA since 1993 and his leadership in accounting functions for significant oil and gas companies ensure strong financial oversight.
• The transition is smooth, with the outgoing Principal Accounting Officer, Noelle Repetti, retiring without any disputes or disagreements with the Company.

Future Outlook

No specific forward-looking statements or guidance are provided in this filing beyond the effective date of the management changes.

Management Comments

• We thank Ms. Repetti for her more than 11 years of dedicated service and wish her well in her retirement.

Industry Context

StockSavvy.ai notes that the appointment of a new Principal Accounting Officer with extensive industry experience, particularly from a recently merged entity like Berry Corporation, is a standard practice to ensure continuity and integration of financial reporting functions. This move is crucial for maintaining robust financial controls and transparency in the complex oil and gas sector, especially post-merger.

Management Changes

Corporate Governance

Stakeholder Impact

• Shareholders: The appointment of an experienced Principal Accounting Officer ensures continuity and stability in financial reporting, which is positive for investor confidence and operational integrity.
• Employees: A leadership change in a key financial role may lead to minor internal adjustments but is generally a smooth transition given the incoming officer's prior experience within the company and its merged entity, minimizing disruption.

Key Dates

Keywords

California Resources Corporation, CRC, Michael Helm, Noelle Repetti, Principal Accounting Officer, Controller, Management Change, Corporate Governance, Oil and Gas, SEC Filing, 8-K