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PG&E To Purge Most Of Its Board In Fallout From Bankruptcy

BERKELEY, Calif. (AP) – PG&E will sweep out three-fourths of its board of directors in an attempt to start with a mostly clean slate after the nation’s largest utility emerges from bankruptcy. 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.