Along with Nora Mead Brownell’s appointment, PG&E Corp added several others to its board. These new addition to its board come in the wake of an ongoing battle with shareholder BlueMountain Capital Management LLC as well as crushing liabilities from 2017, 2018 wildfires which resulted in the deaths of dozens of people and the destruction of several thousand homes.
California energy company PG&E Corp stated, it has appointed former state and federal regulator Nora Mead Brownell as its chairman.
PG&E Corp also said, it has appointed former U.S. ambassador Jeffrey Bleich as chair of the board of its subsidiary Pacific Gas and Electric Company.
Bill Johnson, who was appointed as PG&E’s chief executive earlier in April, will start his role from May 1, said the company.
PG&E is facing severe headwinds in the form of heavy liabilities related to the deadly wildfires in 2017 and 2018 that resulted in the deaths of dozens of people and destroyed thousands of homes.
As per media reports, PG&E is exploring an expansion of its board as it navigates bankruptcy proceedings in an effort to potentially settle an ongoing battle with shareholder BlueMountain Capital Management LLC.