Embattled California utility PG&E, which recently filed for bankruptcy protection and faces billions of dollars in liability over deadly wildfires, has named a new CEO
California's largest power company on Wednesday named William Johnson to the post. Johnson was previously president and CEO of the Tennessee Valley Authority for six years. PG&E touted the Tennessee Valley Authority's safety record and reduction in coal generation and carbon emissions under Johnson. The utility said half of Johnson's incentive compensation will be tied to PG&E's safety performance and metrics.
The new members will join three existing PG&E directors on the board, and seven members will step down. PG&E says it's 'probable' its equipment will be found responsible for the deadly Camp Fire"The significant changes in leadership reflect PG&E's focus on strengthening its safety culture and operational effectiveness and successfully navigating the Company's Chapter 11 process," the company said in a statement.
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