Alejandra Veltmann
California ResourcesAbout Alejandra (Ale) Veltmann
Independent director at California Resources Corporation (CRC) since December 2021; age 56. She serves as Chair of the Audit Committee and is a member of the Nominating & Governance Committee; the Board has determined she is independent under NYSE standards and that she qualifies as an “audit committee financial expert.” She is a CPA, holds SASB’s FSA credential and NACD Directorship Certification, with a BBA in Accounting (University of New Mexico) and completion of Harvard Business School’s Advanced Management Program .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Paragon Offshore plc | Vice President & Chief Accounting Officer | 2015–2018 | Financial leadership at offshore driller |
| Geokinetics, Inc. | Corporate Controller; later VP & Chief Accounting Officer | 2010–2015 | Led accounting at global geophysical company |
| KPMG LLP | Auditor | 1995–2002 | Public company audit experience |
| Arthur Andersen LLP | Auditor | 1992–1995 | Public company audit experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| NET Power, Inc. | Director (public company) | Since 2023 | Clean energy technology company |
| ESG Lynk | Founder; former CEO (2018–2023); Senior Advisor | Founder; CEO 2018–2023; Advisor current | Sustainability reporting company (sold); ongoing advisory role |
| Structural Integrity Associates | Board Member | 2021–2022 (until acquisition) | Specialty engineering company (former) |
Board Governance
| Item | Detail | Source |
|---|---|---|
| Independence | Board determined Veltmann is independent (NYSE) | |
| Committee assignments | Audit Committee (Chair); Nominating & Governance (Member) | |
| Audit Committee meetings | 7 meetings in 2024 | |
| Nominating & Governance meetings | 4 meetings in 2024 | |
| Audit Committee financial expert | Veltmann designated as “audit committee financial expert” | |
| Board meetings | 11 meetings in 2024; each director attended ≥75% of Board/committee meetings during their service | |
| Executive sessions | 4 independent-director executive sessions in 2024 | |
| Whistleblower oversight | VP Internal Audit informs Audit Committee; Audit Chair has direct access to hotline reports |
The Audit Committee also oversees material related-party transactions and major risk exposures (including cybersecurity), meeting in executive session with the external auditor and reserves auditor .
Fixed Compensation
| 2024 Director Compensation (Veltmann) | Amount (USD) | Notes |
|---|---|---|
| Fees Earned or Paid in Cash | $167,000 | Matches program math: $125,000 annual cash retainer + $31,000 Audit Chair fee + $11,000 Nominating & Governance member fee |
| Stock Awards (RSUs, grant-date fair value) | $191,474 | Annual director RSU grant; vests on first anniversary; delivery 6 months after end of Board service |
| Other Compensation | $0 | No dividend equivalents recorded for her in 2024 |
| Total | $358,474 | Sum of cash and stock fair value |
Director compensation program elements (2024; unchanged): $125,000 annual cash retainer; $200,000 annual RSU grant (vesting at 1 year; delivery deferred until 6 months post‑service); Audit Chair fee $31,000; Nominating & Governance member fee $11,000 (paid quarterly in advance) .
Performance Compensation
| RSU Grant Detail (2024) | Data | Source |
|---|---|---|
| Grant date | May 3, 2024 | |
| RSUs granted | 3,705 | |
| Stock price on grant date | $51.68 | |
| Grant-date fair value | $191,474 | |
| Vesting | On first anniversary of grant date | |
| Share delivery | 6 months after end of Board service | |
| Dividend equivalents | Accrue on vested RSUs and paid in cash within 60 days of dividend date | |
| Outstanding unvested RSUs (12/31/2024) | 3,705 |
Director equity is time-based RSUs (not performance-based); vesting/deferral mechanics are intended to align directors with long-term stockholder interests .
Other Directorships & Interlocks
| Company | Status | Role | Interlocks/Notes |
|---|---|---|---|
| NET Power, Inc. | Public | Director | No CRC-disclosed compensation committee interlocks; CRC states no comp committee interlocks/insider participation in 2024 |
| Structural Integrity Associates | Private (former) | Director | Former; no CRC-related transactions disclosed |
| ESG Lynk | Private | Founder; Senior Advisor | No CRC-related transactions disclosed |
CRC policies note related-party transactions are reviewed, with 2024 disclosures not indicating any transactions involving Veltmann; the Audit Committee reviews material related-party transactions .
Expertise & Qualifications
- CPA; SASB FSA credential; NACD Directorship Certified; 32 years of finance, auditing, and public company accounting leadership, including CAO roles at Paragon Offshore and Geokinetics .
- Audit Committee financial expert designation at CRC; deep governance exposure across audit, controls, and compliance; cybersecurity risk oversight within audit remit .
- Education: BBA in Accounting (University of New Mexico); Advanced Management Program (Harvard Business School) .
Equity Ownership
| Item | Detail | Source |
|---|---|---|
| Total beneficial ownership (as of 3/10/2025) | “—” (reported as zero) | |
| Percent of class | 0.00% | |
| Vested vs. unvested | 3,705 unvested RSUs outstanding at 12/31/2024 | |
| Share delivery | Vested shares delivered 6 months after end of Board service | |
| Pledging/Hedging | Company policy prohibits pledging, hedging, short sales, and derivatives on CRC stock |
Note: Director ownership at CRC is supported by deferred delivery of RSUs rather than immediate common share holdings; this may explain zero “beneficial ownership” while unvested RSUs are outstanding .
Governance Assessment
- Strengths: Independent Audit Chair with “financial expert” designation and extensive CPA/accounting background; robust committee cadence (7 Audit; 4 Nominating & Governance in 2024); direct oversight of auditor independence, internal controls, reserves auditor, and whistleblower reports (signals strong tone-at-the-top) .
- Alignment: Director equity delivered post-service and anti-hedging/pledging policy promote long-term alignment; cash/equity mix consistent with peer-oriented program; her 2024 cash of $167k precisely reflects base retainer plus chair/member fees and $191,474 RSU grant .
- Independence/engagement: Board confirms independence; each director attended at least 75% of meetings; 4 executive sessions of independent directors held in 2024 (healthy independent oversight) .
- Watch items: Reported beneficial ownership “—” (0.00%) as of March 10, 2025; while mitigated by deferred RSUs, some investors may prefer more outright share ownership during service .
- Conflicts: No related-party transactions disclosed involving Veltmann; Audit Committee reviews any such items, and CRC disclosed material related-party matters without reference to her (no red flags identified) .