PG&E Corp. To Elect New Chairman, CEO

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The board of directors of PG&E Corp. will elect a new chairman, CEO and president in the weeks ahead to succeed the current chairman, CEO and president, Peter A. Darbee, who will retire, effective April 30. Darbee joined PG&E in 1999 as chief financial officer. He was appointed CEO in 2005 and assumed the additional role of chairman of the board in 2006. Â

The board has named its lead director, Lee Cox, to serve as chairman, CEO and president on an interim basis. Cox is the retired vice chairman of AirTouch Communications Inc. and retired president and CEO of AirTouch Cellular. He has been a member of PG&E's board since 1996.

The company's utility unit, Pacific Gas and Electric Co., will continue to be led by President Christopher P. Johns.

SOURCE: PG&E Corp.

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