PG&E is restructuring its board following the deadly wildfires that caused severe and extensive damage in California last year.
The company, which is California’s biggest utility, expects just five out of 10 of its current directors to stand for re-election at an annual shareholder meeting scheduled for May 21, the Associated Press reports.
“We fully understand that PG&E must re-earn trust and credibility with its customers, regulators, the communities it serves and all of its stakeholders,” the utility said in a statement. “We recognize the importance of adding fresh perspectives to the Board to help address the serious challenges the business faces.”
Last month, PG&E filed for Chapter 11 bankruptcy in Northern California as the investigation continued into whether the company’s equipment ignited last year’s Camp Fire, the deadliest wildfire in California history. The company listed more than $50 billion in liabilities.
PG&E is currently facing a lawsuit on behalf of 35 families impacted by the Camp Fire, which was one reason the company was filing for bankruptcy.
Along with its new board members, PG&E said it anticipates that the board will include 11 independent directors by the time of the shareholder meeting.
The company has not commented on which board members will remain.
