2 PG&E execs to step down, as utility reorganizes

AP News
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Posted: Apr 07, 2011 2:20 PM
2 PG&E execs to step down, as utility reorganizes

Two top Pacific Gas & Electric Co. executives are resigning _ one with a sizeable bonus _ as the California utility reorganizes following a deadly explosion on one of its high-pressure gas lines in a San Francisco suburb.

The utility's president announced this week that John S. Keenan, the chief operating officer, and Edward Salas, senior vice president of engineering and operations, were leaving the company.

A document filed Wednesday with the U.S. Securities and Exchange Commission shows Keenan will step down at the end of the month with more than $3.2 million in severance payments.

The September blast in San Bruno left eight dead, dozens injured and 55 homes uninhabitable.

Now, seven months later, the company plans to divide its gas and electricity divisions into separate units.