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PG&E to purge most of its board in fallout from bankruptcy

California Wildfires Utility
Posted at 12:28 PM, May 01, 2020

PG&E will sweep out three-fourths of its board of directors in an attempt to start with a mostly clean slate after the nation’s largest utility emerges from bankruptcy.

The decision announced Friday as part of quarterly earnings will leave just three of PG&E’s 14 current board members in place.

The San Francisco company is trying to win court approval for its bankruptcy plan by June 30.

PG&E went bankrupt after years of neglect culminated in its fraying electrical grid igniting a series of deadly Northern California wildfires.

The purge of its board of directors falls shy of meeting the demands of Gov. Gavin Newsom and PG&E's chief regulator, the Public Utilities Commission, who wanted the whole board replaced.