PG&E CEO Geisha Williams Steps Down; Names John Simon Interim CEO

( - PG&E Corp. ( PCG ) said that its Board is conducting a search for a new Chief Executive Officer following the departure of Geisha Williams. The company has named John Simon Interim Chief Executive Officer. Simon has served as Executive Vice President and General Counsel since 2017 and has been with the company since 2007.

Simon joined PG&E in 2007. Before serving as Executive Vice President and General Counsel, he held several senior roles within the company including Executive Vice President, Corporate Services and Human Resources, and Senior Vice President, Human Resources.

Ms. Williams has resigned from the Boards of both the holding company and the utility.

Earlier today, Reuters reported that PG&E Corp was in discussions with investment banks about a multibillion-dollar financing package to help navigate bankruptcy proceedings, a sign that Chapter 11 filing preparations are intensifying in the wake of potentially staggering liabilities from deadly wildfires.

The California utility owner is in touch with large banks about so-called debtor-in-possession financing that could total between $3 billion and $5 billion, though the exact figure remains in flux and could end up being higher, the report said.

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