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Home / Business / PG & E hires new CEO as it navigates bankruptcy for California firefighters

PG & E hires new CEO as it navigates bankruptcy for California firefighters



California's largest power company on Wednesday called William Johnson to post. Johnson was former president and CEO of the Tennessee Valley Authority for six years.

PG & E appointed the Tennessee Valley Authority's safety record and reduction in coal generation and carbon emissions during Johnson. The tool said that half of Johnson's incentive compensation will be related to PG & E's security performance and calculations.

"I am humble to take on this new challenge and are dedicated to meeting the high expectations of our customers, regulators and legislators for PG & E," Johnson said in the statement. "While the challenges facing PG & E and California are important, by working together we will overcome them to serve the best interests of our customers, their families, and the communities we serve, starting with a firm commitment to providing safe and reliable power. "

PG & E also announced that it is adding 1

0 new members to the board. The new members will join three existing PG & E board members on the board, and seven members will go down.

  PG & E says it's likely & # 39; s its equipment will be found responsible for the lethal Camp Fire

. "The significant changes in management reflect PG & E's focus on enhancing its security culture and operational efficiency, and successfully navigating the company's Chapter 11 process," the company said in a statement.

"We believe our new CEO and newly-developed board will help PG & E meet California's development challenges and deliver what our customers expect from their energy company."

PG & E could be on the hook for tens of billions of dollars in damage for its possible role in a number of California firefighters, including the 2018 Camp Fire. That flame caused deaths, broken homes, and thousands of other buildings.

The cause of Camp Fire is still under investigation, according to the fire service authorities. But PG & E has suggested that it can be responsible. In a report, the company explained how employees discovered damaged power towers minutes before Camp Fire broke out. An employee called the 911 day when the fire started after spotting the flames near a high-voltage tower.

Experts who follow the company say that PG & E's total responsibility from blazes could be close to $ 70 billion.


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