California Resources Corporation appoints Nelly Molina as EVP and CFO
One of the main goals of her new roles is to help California achieve its climate goals.
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California Resources Corporation (CRC), an independent energy and carbon management company committed to the energy transition, recently announced that Manuela (Nelly) Molina has been named executive vice president and chief financial officer.
Molina, who took office on May 8, accepted this new challenge and replaces CRC's previous CFO, Francisco León, who was named president, chief executive officer and member of the company's board of directors.
León pointed out through a press release:
I am thrilled to welcome Nelly to the CRC team. She has a strong track record of driving growth and expertise in navigating today’s evolving energy industry.
Bringing extensive experience developing energy infrastructure projects in the natural gas and power sectors, Molina is a seasoned energy executive with more than 25 years of experience in corporate finance, capital markets, and project finance.
Previously, she was with Sempra Energy, where she held various senior financial leadership roles, including vice president of audit services and vice president of investor relations.
Molina also served as CFO of Infraestructura Energética Nova, S.A.P.I. de CV (IEnova), a subsidiary of Sempra Energy, which was listed on the Mexican Stock Exchange until October 2021.
At IEnova, Molina excelled by completing more than $10 billion in financing initiatives, including the company's initial public offering.
“Latina Finance Expert. A hands-on, seasoned finance executive experienced in energy infrastructure in Mexico. High performance, results oriented, engaged and skillful Senior Executive,” points out Molina through her LinkedIn profile.
Molina, who has a Master's Degree in Finance from the EGADE Business School at the Instituto Tecnológico y de Estudios Superiores de Monterrey, in Mexico City, and a Bachelor's Degree in Accounting from the University of Sonora, Hermosillo, Sonora, was also noted for her roles in leadership at Kinder Morgan and the former El Paso Corporation in Mexico.
“I am honored to join CRC as its next CFO and build upon the Company’s strong financial foundation. This is a great organization with significant opportunities for sustainable future growth and value creation,” said Molina.
Congratulations to #LCDAMember, @NellyMolinaP, for being appointed Executive Vice President and Chief Financial Officer at California Resources Corporation(NYSE: CRC).— Latino Directors (@LatinoDirectors) May 15, 2023
Learn More: https://t.co/l6xl5DCNaw#LatinaLeaders #LCDAOnTheRise pic.twitter.com/WeQhOqKg4d
Molina has received several recognitions for her contributions as a financial leader in the energy industry, including being named as the best overall Chief Financial Officer among Latin American energy companies in Institutional Investor Magazine’s list of ‘Latin America’s Most Resilient Executives and Companies’ in 2020.
“With her financial acumen and prior experience in disciplined planning, execution and compliance, I look forward to working together as we continue to advance on our strategic realignment of our business operations and structure and focus on driving cash flow generation, enhancing our financial flexibility and delivering value for our shareholders,” added León.
About California Resources Corporation (CRC)
It is an independent energy and carbon management company committed to the energy transition.
CRC produces some of the most carbon-intensive oil in the U.S. and is focused on maximizing the value of its land, mineral and technical resources for decarbonization efforts.
“As the Company carries on with its energy transition initiatives, I’m excited to work with Francisco and the rest of the team to expand on the carbon management business, safely produce and deliver low carbon intensity energy to the local communities where CRC operates and help California achieve its climate goals,” highlighted Molina.