PG & E to replace half of its board among the Wildfire Responsibility-Fueled Bankruptcy: NPR
Pacific Gas and Electric Corp., California's largest tool, will replace half of the company's 10 members in May, the company announced Monday.
"The board now expects that no more than five of the company's current board members will stand for election in 2019 annual meeting, the company said in a statement. The board has already identified strong candidates who will add new perspectives and increase the board's expertise in safety, operation and other critical areas. "
PG & E signaled a leadership makeup last month when NPR first reported that the utility company, obsessed with potential liability related to California's devastating fire traps, was looking for Ways to Avoid Bankruptcy. The company was filed for bankruptcy at the end of January.
In the aftermath of the wild fire, and with the company still taking samples for its role in the throttle explosion in San Bruno, California, PG and E, PG & E recognized its public image.
"We fully understand that PG & E must regain the trust and credibility of its customers, regulators, communities it serves and all its stakeholders, and we continue to make changes that strengthen PG & E's commitment to security and improvement." the statement read.
A business critic, State Secretary Bill Dodd, D-Napa, where the wine district was suffering from a massive fire field in 2017, said the board's changes were too late.
"While the change in the board is welcome, it's still taken far too long," Dodd said in a statement. "And it doesn't make sense to wait another day for these changes with another fire season on the horizon. Time will tell if this new management gives the poor culture of security on PG and E."
State investigators found that Napa fire was not caused by PG & E, but by a private electrical system.
The shakeup is already underway. PG & E's CEO, Geisha Williams, abruptly resigned from the position and board seat in mid-January. Another board member, Roger Kimmel, went up a few days later.
