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Posted 06 March, 2024

Berry Corp (bry) appointed new CEO

CEO Change detected for ticker Nasdaq:BRY in a 8-K filed on 06 March, 2024.


  After more than five years of service as the Company's Chief Executive Officer and President, Mr. Smith stepped down from those roles effective January 1, 2023, and agreed to continue to serve on the Board as Executive Chair for a limited duration to promote an effective CEO transition. On March 5, 2024, Mr. Smith notified the Board of his intention to retire from the Board concurrent with the expiration of his Executive Chair term, effective immediately following the Company's filing of its Annual Report on Form 10-K for the year ended December 31, 2023.  

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Overview of Berry Corp (bry)
Companies on the Energy Service • Upstream Oil & Gas
Berry Corp. is an energy exploration company, which engages in the acquisition, exploration, development, and production of domestic oil and natural gas reserves. It operates through the Exploration and Production (E&P) and Well Servicing and Abandonment segments. The E&P segment consists of the development and production of onshore, low geologic risk, long-lived conventional oil and gas reserves, primarily located in California, as well as Utah. The Well Servicing and Abandonment segment is involved in the wellsite services in California to oil and natural gas production companies, with a focus on well servicing, well abandonment services and water logistics. The company was founded by C. J. Berry in 1909 and is headquartered in Dallas, TX.
Market Cap
$531M
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Berry Corp (bry) by TradingView
Relevant filing section
Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


As previously disclosed in a Current Report on Form 8-K filed by the Company, Arthur "Trem" Smith's term as Executive Chair of the Board expired on March 1, 2024. After more than five years of service as the Company's Chief Executive Officer and President, Mr. Smith stepped down from those roles effective January 1, 2023, and agreed to continue to serve on the Board as Executive Chair for a limited duration to promote an effective CEO transition. On March 5, 2024, Mr. Smith notified the Board of his intention to retire from the Board concurrent with the expiration of his Executive Chair term, effective immediately following the Company's filing of its Annual Report on Form 10-K for the year ended December 31, 2023. Mr. Smith is retiring from the Board to pursue other opportunities and his retirement decision is not the result of any dispute or disagreement with the Company or the Board, including with respect to any matter relating to the operations, policies or practices of the Company. The Company thanks Mr. Smith for his dedicated service to the Company and wishes him well in his future pursuits.

 As previously disclosed in the prior Current Report, effective as of March 1, 2024, (a) current director Renée Hornbaker assumed the role of Board Chair, and (b) the Company's current Chief Executive Officer, Fernando Araujo, joined the Board.