California Gov. Gavin Newsom slammed a new proposed board for PG&E as 'prioritizing quick profits for Wall Street over public safety'
California Gov. Gavin Newsom criticized what he described as plans by PG&E Corp. to stack its board with hedge-fund financiers interested in “prioritizing quick profits for Wall Street over public safety.”
The California utility, which sought bankruptcy protection in January, has said it plans to announce a new slate of directors as well as a new chief executive. PG&E faces billions of dollars in potential liabilities from its role in sparking deadly wildfires and criticism over its safety practices.
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