PG&E Promises Board Shake-Up as It Pursues California’s Approval on Bankruptcy Exit

PG&E rounded up creditor support in bankruptcy, but it still faces criticism from California’s governor

PG&E Corp. pledged to shake up its board of directors and increase its safety focus in a bid to win California’s support for its bankruptcy exit plan, but obstacles remain in appeasing Gov. Gavin Newsom.

The company, which filed for bankruptcy protection last year because of its liabilities from numerous deadly wildfires, said Friday evening that it will replace many of its current directors and expand safety positions and performance metrics after it emerges from chapter 11.

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