Todd A. Stevens and William E. Albrecht were appointed to executive roles at California Resources Corp., a subsidiary of Occidental Petroleum Corp. (OXY), Occidental said July 10. Stevens was appointed as president and CEO, while Albrecht was appointed as executive chairman of the board.
California Resources Corp. is an exploration and production company focusing on “high growth, high return conventional and unconventional” California assets, the company added.
“Todd and Bill are eminently qualified to lead CRC,” said Stephen I. Chazen, Occidental’s president and CEO.
“They bring proven leadership abilities and more than 50 years of combined industry experience. Both have played an important part in building and managing our California operations for over 15 years,” he added.
Stevens worked for Occidental for 19 years, and was vice president of corporate development since August 2012, the company said. Previously, from 2008 to 2012, he was vice president of acquisition and corporate finance for the company, as well as vice president of California operations, Occidental noted.
Albrecht has been president of Occidental Oil and Gas—Americas since 2011, the company said, noting that he was also vice president of the company since that time. He has more than 35 years’ experience in the industry, the company said, noting that he joined Occidental in 2007 as vice president of California operations.
The company is still planning the process for the businesses’ separation, Occidental noted.
Houston-based Occidental Petroleum Corp. explores and produces natural gas and oil worldwide.