California Resources Corporation announced that Bobby Saadati will resign from its Board of Directors following a stock repurchase agreement with IKAV Impact. The repurchase involves 4,950,000 shares at $46.00 each, totaling $227.7 million, and will reduce IKAV's holdings to below 5% of the company's outstanding shares. As a result, IKAV will lose its right to nominate a director to the Board.
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