PG&E to name new CEO as early as next week, overhaul board: WSJ
Written by Maga First News on March 16, 2019
A PG&E truck carrying an American Flag drives past PG&E repair trucks in Paradise, California, U.S. November 21, 2018. REUTERS/Elijah Nouvelage
March 16, 2019
(Reuters) – PG&E Corp is likely to name a new chief executive officer as early as next week and to announce an overhaul of its board backed by some of its largest investors, the Wall Street Journal reported on Saturday.
Bill Johnson, retiring head of the Tennessee Valley Authority, is the front-runner to get the job of PG&E’s new CEO, the Journal reported, citing people familiar with the matter.
Johnson’s new role has not been finalized and other candidates were still being interviewed, the newspaper added.
The utility filed for bankruptcy protection in January in anticipation of liabilities from the wildfires, including the catastrophic 2018 Camp Fire that killed 85 people.
(Reporting by Ismail Shakil in Bengaluru; Editing by Daniel Wallis)