PG&E CEO Bill Johnson stepping down in June

Johnson expects the nation's largest utility to be out of bankruptcy by June

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Bill Johnson is stepping down after a year as CEO and president of the largest utility in the nation, California's Pacific Gas & Electric.

His retirement will be effective June 30, according to a statement.

Board member and former AT&T staffer William L. Smith is set to serve as interim CEO.

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Johnson joined PG&E in April 2019 as it sought Chapter 11 bankruptcy protection due to roughly $30 billion in liabilities from wildfires started by its equipment.

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"I joined PG&E to help get the company out of bankruptcy and stabilize operations," Johnson said in the statement. "By the end of June, I expect that both of these goals will have been met."

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