BERKELEY, Calif. (AP) — PG&E Corp. will sweep out three-fourths of its board of directors to start with a mostly clean slate when it emerges from a bankruptcy case triggered by deadly wildfires ignited in Northern California by the utility’s neglected electrical grid.
The decision announced Friday as part of quarterly earnings will leave just three of PG&E’s 14 current board members in place.
The San Francisco company is trying to win court approval for its bankruptcy plan by June 30.
PG&E went bankrupt after years of neglect culminated in its fraying electrical grid igniting a series of deadly Northern California wildfires.
The purge of its board of directors falls shy of meeting the demands of Gov. Gavin Newsom and PG&E's chief regulator, the Public Utilities Commission, who wanted the whole board replaced.