© Reuters. FILE PHOTO: Pacific Gas and Electric (PG&E) trucks are seen parked on a road between homes destroyed by the Tubbs Fire in Santa Rosa, California

(Reuters) – California energy company PG&E Corp on Wednesday named William Johnson as Chief Executive Officer and president, and said it would appoint 10 new directors to its board as it navigates through bankruptcy.

Johnson has been the CEO of the Tennessee Valley Authority since 2013.

PG&E said seven current board directors were stepping down.

The company faces crushing liabilities related to deadly wildfires in 2017 and 2018 that killed dozens of people and destroyed thousands of homes.

“We have heard the calls for change and have taken action today to ensure that PG&E has the right leadership to bring about real and dynamic change,” PG&E’s board said in a statement.

Reuters had reported on Tuesday that the company planned to make the appointment, citing a source.

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2019-04-03