WASHINGTON (dpa-AFX) - PG&E Corp. (PCG) said Wednesday that its chief executive officer and president, William Johnson, will retire from the company, effective on June 30, 2020, which is expected to be after the company's Plan of reorganization is confirmed by the Bankruptcy Court. Johnson will remain on the board until June 30.
'I joined PG&E to help get the company out of bankruptcy and stabilize operations. By the end of June, I expect that both of these goals will have been met,' said Johnson.
The company has appointed William Smith as interim chief executive officer. Smith, who joined the PG&E Board of Directors in 2019, will serve in this role from the time of Johnson's departure through the appointment of a new chief executive officer.
Smith is the retired President of AT&T Technology Operations at AT&T Services, Inc., where he spent 37 years with the telecommunications service provider and its predecessor companies.
PG&E also said that Andrew Vesey, current CEO and President of Pacific Gas and Electric Company, the utility subsidiary, will continue in his role overseeing the company's electric, gas, generation and customer operations.
Recently, PG&E received approval and support from the Governor's Office for the company's Plan of Reorganization. It reached $25.5 billion in wildfire settlements with victims; It also reached a plea agreement with the Butte County District Attorney on charges related to the 2018 Camp Fire.
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