Troubled California utility names new chief executive, board
SACRAMENTO, Calif. (AP) — A troubled California utility has named a new chief executive and board members amid a bankruptcy proceeding.
Pacific Gas & Electric Corp. announced Wednesday it has chosen Bill Johnson as its president and named 10 new directors to its board. Johnson was most recently head of the Tennessee Valley Authority, a publicly owned utility.
A board meeting will be held “as soon as practicable” to seat the new board and it will stand for election at a May shareholders meeting. Three current board members are remaining.
Democratic Gov. Gavin Newsom says the new board includes too many people with Wall Street ties and few California connections.
The San Francisco-based utility has been under fire for its equipment’s role in sparking deadly California wildfires and for its overall approach to safety.