California Resources Corp. has named the company’s executive chairman, Mark McFarland, to serve as interim chief executive officer following the departure of Todd A. Stevens, president and chief executive officer, on Dec. 31. James N. Chapman will serve as lead independent director.
Occidental Petroleum Corp. appointed Stevens as president and chief executive officer of its independent spinoff California Resources Corp. in 2014 (OGJ Online, July 10, 2014).
The board will launch a search process for the company’s next chief executive officer.