California’s Governor Blasts PG&E’s Hedge Fund Board Picks (1)

California Governor Gavin Newsom urged bankrupt power giant PG&E Corp. to reconsider its picks for a board overhaul, saying the company is about to appoint hedge fund financiers and others who have little or no experience in California or the utility business.

Newsom, whose staff had been briefed on PG&E’s picks in the past week, said the company is “primed” to make appointments that include “out-of-state executives” and pressed it to consider a board that consists primarily of Californians with experience as regulators, safety experts and clean energy advocates. His letter comes as a March 29 deadline nears for PG&E ...