Friday, 5 April 2019

Bankrupt California utility PG&E announces new CEO, board shakeup

Bankrupt California utility PG&E announces new CEO, board shakeupTroubled California utility PG&E on Tuesday named Bill Johnson as its new CEO, as it faces contentious bankruptcy proceedings and billions of dollars in potential liabilities over its role in a series of deadly wildfires. The largest utility in the most populous American state, Pacific Gas and Electric Company has been under intensifying scrutiny in the wake of the 2018 Camp Fire in northern California that left 86 people dead and destroyed some 18,000 buildings. PG&E could face massive liabilities if investigators find that its equipment was responsible for the fire.




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