PG&E Financing
PG&E has secured $5.5 billion in financing for its bankruptcy filing after claiming that it may have been liable for the Northern California wildfires. A traffic cone sits next to a Pacific Gas & Electric (PG&E) truck on January 17, 2019 in Fairfax, California. PG&E announced that they are preparing to file for bankruptcy at the end of January as they face an estimated $30 billion in legal claims for electrical equipment that might have been responsible for igniting destructive wildfires in California. Getty Images/Justin Sullivan

California utility PG&E (PCG) has seen a shake up of their leadership structure with two long-standing executives leaving the company on the same day. PG&E filed for Chapter 11 bankruptcy protection in January after assuming liability for the Southern California wildfires.

Jesus Soto, the senior vice president of gas operations at PG&E, left the company on Monday, according to its SEC filing. Soto joined PG&E in 2012 and will be replaced by Melvin Christopher, who moved from his position as vice president of gas transmission and distribution operations, according to PG&E. He came to PG&E in 2011 and is leading the gas operation business for the interim.

Jon Franke, vice president of safety and health also left the company on Monday, the San Francisco Chronicle reported. He joined PG&E in 2017 and will be replaced by Jan Nimick on an interim basis, according to Bill Johnson, CEO of PG&E Corp.

PG&E did not disclose why Soto or Franke left the company, but Johnson said in a letter to employees obtained by the Chronicle, “Having been here just over a month, I’ve had time to review and assess our team and organization and have determined some changes for our path forward together.” Johnson joined PG&E in early May.

Beyond Soto’s and Franke’s departures, the board of directors has also seen an overhaul of members as well as the company’s CEO, COO, senior vice president of energy supply and policy positions, the news outlet said. In addition, three more executives on the electric side of the company’s operations have reportedly departed.

In the letter to employees, Johnson indicated that the COO position would not be filled, rather the position would become CEO of the utility subsidiary. Other responsibility changes included the role of John Simon, PG&E’s interim CEO, who will now lead areas such as law, strategy, and policy, Johnson’s letter said. Simon reports to Johnson.

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