California News

PG&E Pledges To Shake Up Its Board Of Directors To Avoid Being Taken Over By California

CBS Sacramento-


PG&E is pledging to overhaul its board of directors in an attempt to avoid a potential takeover by the state of California and prove the nation’s largest utility is turning over a new leaf as it works through its second bankruptcy in less than 20 years.

The promise to shake things up came late Friday as the San Francisco-based company filed its latest blueprint for getting out of bankruptcy court by June 30. But to make that deadline, PG&E still must win over Gov. Gavin Newsom, who has been insisting for months that the company must make more radical changes to a corporate culture that has repeated lapses in safety and played a role a series of catastrophic wildfires that drove the utility back into bankruptcy last year.

Read More

 

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: