(Reuters) - PG&E Corp on Wednesday appointed Tennessee Valley Authority Chief Executive Officer William Johnson as its CEO and added 10 members to its board of directors, as the company navigates through bankruptcy.
The California energy company faces crushing liabilities related to wildfires in 2017 and 2018 that killed dozens of people and destroyed thousands of homes.
Effective as of PG&E’s next in-person board meeting, seven current directors will step down, the company said.
It will retain three directors: Fred Fowler, Richard Kelly and Eric Mullins. Johnson will stand for election as the 14th director at the company’s annual meeting.
The following is a list of PG&E’s new directors and their credentials.
- Jeffrey Bleich is a partner at law firm Dentons and has served as U.S. ambassador to Australia and special counsel to former U.S. President Barack Obama.
- Nora Mead Brownell is the co-founder of energy consulting firm Espy Energy Solutions and has served as the commissioner of the Federal Energy Regulatory Commission (FERC).
- Richard Barrera is the founder of asset management firm Roystone Capital Management and has over 20 years of experience in the asset management industry.
- Cheryl Campbell most recently served as senior vice president of electric and gas utility Xcel Energy Inc.
- Michael Leffell is the chairman of financial tech company Canoe Software and is also the founder of privately held Portage Partners.
- Kenneth Liang is the former head of restructurings at Oaktree Capital Group LLC’s investment strategy fund, Oaktree Capital Management Opportunities Fund.
- Dominique Mielle serves as a director at Anworth Mortgage Asset Corp and Studio City International Holdings Ltd.
- Meridee Moore is the founder and CEO of alternative asset manager Watershed Asset Management and has over 25 years of experience in investment and restructuring.
- Kristine Schmidt is a former adviser to the FERC commissioner and has over 35 years of experience in the electricity industry.
- Alejandro Wolff is a director of Albemarle Corp and a former U.S. ambassador to Chile.
Reporting by Manas Mishra in Bengaluru; Editing by Peter Cooney