PG&E Corp. yesterday announced the names of 11 new board members who will help steer the company after the expected conclusion of its bankruptcy case this year, the San Francisco Chronicle reported. The San Francisco parent of Pacific Gas and Electric Co. said that six of the new directors are from California, in keeping with the desires of state officials. PG&E agreed to “substantial modifications” to its board in a bankruptcy deal with Gov. Gavin Newsom this year. PG&E said that the directors will provide “substantial expertise in key areas critical to the company’s work” such as utility operations, safety, risk management, regulatory affairs, engagement with customers and more. New directors will be seated on the board “at or prior” to the end of the bankruptcy, PG&E said. PG&E’s announcement comes more than one month after the company said that only three of its current 13 board members would remain in their roles after the company emerges from chapter 11. It’s part of a series of changes coming to PG&E as its bankruptcy case winds down, including the forthcoming departure of CEO Bill Johnson.
