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.

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