Please ensure Javascript is enabled for purposes of website accessibility

Why COVID Is Spreading Again This Summer

6 hours ago

Amid Threats From Trump, Sen. Adam Schiff Forms Legal Defense Fund

9 hours ago

Israel to Place $500 Million, US-Funded Order for Boeing Aerial Refueling Tankers

10 hours ago

Hurricane Erin Threatens North Carolina’s Outer Banks With Storm Surge

10 hours ago

Israel Approves Settlement Plan to ‘Erase’ Idea of Palestinian State

10 hours ago

Tech Stocks Pressure Wall Street as Caution Sets in Ahead of Fed Meet

10 hours ago

Most Americans Believe Countries Should Recognize Palestinian State, Reuters/Ipsos Poll Finds

10 hours ago

Gabbard Revokes Security Clearances of 37 Current, Former US Intelligence Members

1 day ago

Trump Escalates Attacks Against the Smithsonian Institution

1 day ago

California Republicans File Suit Seeking to Block Newsom Redistricting Plan

1 day ago
Gov. Newsom Criticizes PG&E’s Plan for New Board
gvw_ap_news
By Associated Press
Published 6 years ago on
March 29, 2019

Share

SACRAMENTO — California Gov. Gavin Newsom said Thursday that Pacific Gas & Electric Corp. plans to remake its board of directors with hedge fund financiers and people who have little experience in utility operations and safety, and he urged the utility’s leader to change course.

“With this move, PG&E would send a clear message that it is prioritizing quick profits for Wall Street over public safety and reliable and affordable energy service.” — Gov. Gavin Newsom

“With this move, PG&E would send a clear message that it is prioritizing quick profits for Wall Street over public safety and reliable and affordable energy service,” Newsom, a Democrat, said in a public letter to John Simon, the utility’s interim chief executive.

The San Francisco-based utility is in the midst of Chapter 11 bankruptcy proceedings after it said it could not afford billions of dollars in liability related to deadly California wildfires in 2017 and 2018. It had previously announced plans to replace most of its board by its annual shareholder meeting in May.

But the company has not announced its slate of candidates for the new board. Newsom’s office was briefed by PG&E executives on their proposed slate in recent days, spokesman Nathan Click said. The governor’s office is not releasing the names either.

Starting Deadly Blazes Across California

A spokeswoman for the utility did not directly address who the utility is planning to name for the board or when it will make an announcement. Lynsey Paulo said the utility understands “the serious concerns expressed by the governor” and his urgency.

“We recognize the importance of adding perspectives to the Board that will bring about the right changes in safety, as well as help address the serious operational and financial challenges the business faces now and in the future,” she said in an emailed statement.

PG&E, the nation’s largest utility, has faced intense scrutiny over its equipment’s role in starting deadly blazes across California. A federal judge is overseeing a separate criminal conviction PG&E received for its role in a 2010 gas line explosion that killed eight people.

Newsom said PG&E should remake its board with a majority of Californians with backgrounds as regulators, safety experts and in clean energy.

“Any new board member should be resolved to change the culture of the company, understand the concerns of ratepayers and demonstrate a commitment to the fair treatment of wildfire victims and employees,” his letter said.

Criticizing the Bankruptcy Declaration

BlueMountain Capital Management, a PG&E shareholder that has criticized the bankruptcy declaration, has put forward its own slate of 13 new board members.

“It was a very good thing for the governor to serve notice that replacing the board with the same kind of Wall Street interests that have put profits in front of safety for so many years is not going to solve the problem.” — Mark Toney, executive director

“PG&E needs a board with proven experience in safety, claims resolution, utility operations, finance and turnarounds, and California business and public policy,” the shareholder group said in an emailed statement.

Shareholders will elect a new board at the May 21 annual meeting, either voting for or against nominees put forward by a nominating and governance committee. Board members on average serve for more than seven years, according to information prepared ahead of the 2018 annual meeting. Board members for the corporation also serve on the board of the utility.

The Utility Reform Network, a consumer advocacy group, praised Newsom’s public comments.

“It was a very good thing for the governor to serve notice that replacing the board with the same kind of Wall Street interests that have put profits in front of safety for so many years is not going to solve the problem,” executive director Mark Toney said.

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

DON'T MISS

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close

DON'T MISS

International Rapper Derrick ‘Aesop’ McElroy Who Called Fresno Home Dies at 51

DON'T MISS

Trump Administration to Vet Immigration Applications for ‘Anti-Americanism’

DON'T MISS

Texas Republicans Approve Trump-Backed Congressional Map to Protect Party’s Majority

DON'T MISS

Fresno County Authorities Seek Suspect in Casino Assault

DON'T MISS

Poll: California Dems Favor Newsom Over Harris in 2028 Matchup

DON'T MISS

‘Moral Conflict’ Drives Dem Doubts About Newsom’s Redistricting Plan

DON'T MISS

Fresno Animal Center at Critical Capacity After Receiving Over 100 Dogs

DON'T MISS

Fresno Police Arrest Two SoCal Men in Homicide Investigation

DON'T MISS

Fresno Police Investigating Fatal Stabbing of 31-Year-Old Man

DON'T MISS

Tulare County Sheriff Adds Goshen Teen to Most Wanted List

UP NEXT

‘Moral Conflict’ Drives Dem Doubts About Newsom’s Redistricting Plan

UP NEXT

Why COVID Is Spreading Again This Summer

UP NEXT

Amid Threats From Trump, Sen. Adam Schiff Forms Legal Defense Fund

UP NEXT

Founders of This New Development Say You Must Be White to Live There

UP NEXT

Yosemite Biologist Who Hung Trans Pride Flag From El Capitan Is Fired

UP NEXT

California Republicans File Suit Seeking to Block Newsom Redistricting Plan

UP NEXT

California, Other State AGs Urge Trump EPA to Drop Plan to Kill Greenhouse Gas Rules

UP NEXT

Nexstar to Buy Smaller Rival Tegna for $3.54 Billion in Big Local-TV Deal

UP NEXT

5 Things to Know About Newsom’s Plan to Redraw CA Election Maps

UP NEXT

Kern County Authorities Uncover Illegal Casino in Bakersfield, Seize Cash and Machine CPUs

Fresno County Authorities Seek Suspect in Casino Assault

3 hours ago

Poll: California Dems Favor Newsom Over Harris in 2028 Matchup

3 hours ago

‘Moral Conflict’ Drives Dem Doubts About Newsom’s Redistricting Plan

3 hours ago

Fresno Animal Center at Critical Capacity After Receiving Over 100 Dogs

3 hours ago

Fresno Police Arrest Two SoCal Men in Homicide Investigation

4 hours ago

Fresno Police Investigating Fatal Stabbing of 31-Year-Old Man

4 hours ago

Tulare County Sheriff Adds Goshen Teen to Most Wanted List

5 hours ago

Lemoore Union Elementary Reaches Settlement Over Disability Discrimination Allegations

5 hours ago

Wired Wednesday: Why Is Pismo’s Manager in ICE Detention?

5 hours ago

Why COVID Is Spreading Again This Summer

6 hours ago

International Rapper Derrick ‘Aesop’ McElroy Who Called Fresno Home Dies at 51

When he wasn’t touring Asia, Europe, or across the U.S., Derrick “Aesop” McElroy was busy making a name for himself and fo...

1 hour ago

Derrick 'Aesop' McElroy
1 hour ago

International Rapper Derrick ‘Aesop’ McElroy Who Called Fresno Home Dies at 51

A U.S. Citizenship and Immigration Services (USCIS) naturalization ceremony in New York City, U.S., September 17, 2021. (Reuters File)
2 hours ago

Trump Administration to Vet Immigration Applications for ‘Anti-Americanism’

State Representative Matt Morgan (R-TX) holds a map of the new proposed congressional districts in Texas, during a legislative session as Democratic lawmakers, who left the state to deny Republicans the opportunity to redraw the state's 38 congressional districts, begin returning to the Texas State Capitol in Austin, Texas, U.S. August 20, 2025. (Reuters/Sergio Flores)
2 hours ago

Texas Republicans Approve Trump-Backed Congressional Map to Protect Party’s Majority

Fresno County authorities are searching for Robert Rios, 27, of Auberry, wanted for assault, burglary and drug possession following a June 6 domestic disturbance at Mono Wind Casino. (Fresno County SO)
3 hours ago

Fresno County Authorities Seek Suspect in Casino Assault

3 hours ago

Poll: California Dems Favor Newsom Over Harris in 2028 Matchup

Gov. Gavin Newsom at Election Rigging Response News Conference
3 hours ago

‘Moral Conflict’ Drives Dem Doubts About Newsom’s Redistricting Plan

The Fresno Animal Center is over capacity after taking in more than 100 animals in recent days, leaving dozens of dogs at risk of euthanasia unless the community steps up to adopt or foster, officials said. (Shutterstock)
3 hours ago

Fresno Animal Center at Critical Capacity After Receiving Over 100 Dogs

Fresno police arrested Krishan Kumar (left), 24, and Vishal Vishal, 31, in connection with the July 21 shooting death of Kuvar Kumar. (Fresno PD)
4 hours ago

Fresno Police Arrest Two SoCal Men in Homicide Investigation

Search

Help continue the work that gets you the news that matters most.

Send this to a friend