PG & E CEO goes down in the middle of bankruptcy reports

PG & E Corp.

PCG, -0.96%

CEO Geisha Williams has declined, the California tool said in a statement Sunday evening. Executive Vice President and Advocate General John Simon will take over as interim CEO, says the company. PG & E shares have tumbled over the past few months as they face tens of thousands of dollars in potential commitments over devastating California fire failures caused by the equipment in recent years. Earlier Sunday, Bloomberg News reported that PG & E may notify its employees as soon as Monday of possible bankruptcy proceedings. PG & E shares are down 26% so far this year, and down 60% over the last 1[ads1]2 months, compared to S & P 500 s

SPX, -0.01%

3.5% gain in 2019 and 6.8% decline over the past year.

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