Deals
PG&E Considers Boosting New Director Pay to $400,000
- Bankrupt utility has engaged search firm Spencer Stuart
- Higher pay would reflect heavy lifting positions would require
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PG&E Corp. is considering offering new board members significantly higher compensation than existing directors as the bankrupt utility giant seeks to recruit directors, according to people familiar with the matter.
The parent of California’s largest utility -- which filed for bankruptcy in January -- may offer incoming directors as much as $400,000 annually, said the people, who asked not to be identified because the matter isn’t public. The median PG&E director compensation was $271,000 in 2017, according to data compiled by Bloomberg.