SAN FRANCISCO — One of PG&E Corporations' investor groups criticized the company’s decision to extend a nomination deadline for the 7th time.
The PG&E Board of Directors had previously announced a "refreshment" process that would add fresh perspectives and augment their expertise in safety, operations, and other critical areas.
BlueMountain Capital Management, LLC's criticism on PG&E's decision to delay the nomination process is coupled with their criticism that “This company has been plagued by inaction for far too long.” It also follows other criticism of PG&E management from people like Governor Gavin Newsom.
Previously, Governor Newsom wrote a letter saying he was troubled to learn that PG&E planned to reconstruct their board with members who had little experience in the state or in utility operations.
To date, five of the current 10 board members were on the board during the San Bruno explosion, which earned the company felonies for violating federal gas pipeline safety laws and obstructing an National Transportation and Safety Board investigation.
In a media statement released on March 29, BlueMountain said they had proposed a slate of 13 “highly-qualified nominees” consistent with the governor’s criteria, who they say are ready and willing to get to work.
Among those nominated were those with safety and risk management skills, utility expertise, clean energy commitments, and California interests.
Nominees included Ken Feinberg, who is noted for his leadership in resolving victims’ claims and had handled the Deepwater Horizon oil spill fund.
Christopher Hart was also among the nominees. He’s a former Chairman for the NTSB and served as such during the San Bruno explosion in 2010; relating to the NTSB, PG&E would eventually be found guilty of obstruction in 2016 after investigators found that the company attempted to mislead them during the San Bruno investigation.
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