With Bankruptcy Exit in Sight, PG&E’s Mr. Fix-It Plans to Retire
- CEO Bill Johnson not leaving over a disagreement, PG&E said
- PG&E is pushing to have bankruptcy plan approved by June 30
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PG&E Corp. Chief Executive Officer Bill Johnson, who was hired to steer the California power giant through the biggest-ever U.S. utility bankruptcy, will retire in June when the company is expected to exit Chapter 11.
Johnson, a utility industry veteran who joined PG&E about 11 months ago, is not leaving over a disagreement, the utility said in a filing. PG&E board member and former telecommunications executive William Smith will become interim CEO June 30, when Johnson’s resignation takes effect.