PG&E to reshape board in aftermath of wildfires

Associated Press |

Half of the board at PG&E is unlikely to stand for re-election at the besieged utility company that is reeling in the aftermath of last year's deadly California wildfires.

The company said Monday that it understands the need to "re-earn trust and credibility" with customers and regulators.

PG&E says that it foresees 11 independent directors on its board by the time of its 2019 annual shareholders meeting on . It doesn't expect more than five of the current directors to seek another term.

It did not say which board members are likely to remain.

PG&E, the nation's biggest utility, filed for Chapter 11 reorganization last month as it faces the possibly of tens of billions of dollars in claims.

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