California Resources Corporation
03/16/2026 | Press release | Distributed by Public on 03/16/2026 15:02
Management Change/Compensation (Form 8-K)
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Appointment of Principal Accounting Officer
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, has served as the Company's Vice President - Finance, Oil and Gas following the closing of the Company's merger with Berry Corporation (bry) ("Berry") in December 2025. Mr. Helm previously led Berry's accounting function as its Chief Accounting Officer since 2017, where he 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 the Assistant Controller for Occidental Petroleum Corporation, an international oil and gas company, from 2007 to 2014. From 2003 to 2007, he served as Director of Internal Audit for K2 Inc., a publicly traded international sporting goods company. He began his career as an auditor at Ernst Young in Los Angeles in 1990 after graduating from UCLA with a Bachelor of Arts degree majoring in Economics-Business. He has been an actively licensed CPA since 1993.
There are no family relationships between Mr. Helm and any director or executive officer of the Company, and Mr. Helm has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
In connection with Mr. Helm's appointment, the Company will enter into an Indemnification Agreement (the "Indemnification Agreement") with Mr. Helm, pursuant to which the Company will agree to indemnify Mr. Helm to the fullest extent permitted under Delaware law against liability that may arise by reason of his service to the Company and to advance his expenses incurred as a result of any proceeding against him to which he could be indemnified. The foregoing description of the Indemnification Agreement is qualified in its entirety by reference to the full and complete text of the Indemnification Agreement, a form of which is filed herewith as Exhibit 10.1 and incorporated herein by reference.
Departure of Principal Accounting Officer
Noelle Repetti, the Company's Senior Vice President and Controller, is retiring effective as of March 16, 2026. We thank Ms. Repetti for her more than 11 years of dedicated service and wish her well in her retirement. Ms. Repetti's departure did not result from any dispute or disagreement with the Company on any matter relating to the Company's operations, financial statements, internal controls, policies or practices.
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