Posts Tagged ‘Lee Cox’

First “Outsider” Ever to Helm PG&E: Anthony F. Earley, Jr., will be New Chairman, CEO, President

Tuesday, August 9th, 2011

Straight outta Detroit comes Anthony F. Earley, Jr to helm troubled Pacific Gas & Electric.

September 13, 2011 is the changeover date.

All the deets below.

 

PG&E Corporation Names Anthony F. Earley, Jr., as Chairman, Chief Executive Officer, and President

SAN FRANCISCO, Aug. 8, 2011 — PG&E Corporation (NYSE: PCG) today announced that Anthony F. Earley, Jr., 62, will become the company’s new Chairman of the Board, Chief Executive Officer, and President. Earley’s appointment – the first in PG&E’s history to come from outside the organization – puts the company under the leadership of one of the nation’s most experienced energy executives.

As head of Michigan-based DTE Energy for more than a decade, Earley built the company’s core businesses – Detroit Edison and Michigan Consolidated Gas Company – into two of the most highly respected electric and natural gas operating companies, with strong performance on many of the industry’s key safety and reliability measures.

“Tony is a highly respected and proven CEO who will provide fresh eyes and strong leadership as we focus on public safety and operations excellence,” said Lee Cox, interim Chairman, Chief Executive Officer, and President. “We looked across the industry and found the person best qualified to help us win back public confidence.”

Earley joined Detroit Edison in 1994 as President and Chief Operating Officer. He became CEO of DTE Energy in 1998 and served in that role through 2010. Most recently, he has been DTE’s Executive Chairman. DTE Energy is one of the nation’s largest diversified energy companies.

“PG&E has a proud legacy,” said Earley. “It’s a great privilege to help an iconic company recover from its recent challenges and reclaim its standing as the utility others admire and aspire to follow.”

Ever more deets after the jump.

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The Chevrolet Volt is Not an Electric Car – Repeticion: El Chevy Volt No Es Un Coche Electrico

Monday, April 25th, 2011

[UPDATE: Well, I spoke too soon - Pigs, Giraffes, & Elephants just decided to foot the bill for their departing CEO. See below]

I don’t know, the problem with talking about “GM’s race to develop the electric Chevrolet Volt” is that the Chevrolet Volt isn’t an electric car.

It’s a plug-in hybrid, just like those familiar Toyota Priuseses you see being driven (badly) all over town.

So, calling the Volt “electric” is muy prohibidado, ‘specially for the writers at the New Yawk Times.

A PG&E exec motoring through the Inner Richmond to the glamorous West Bay suburbs of the 415 – let’s hope he won’t get $35 million of our money* when he screws something up/kills people and then quits/gets fired.

Click to expand

(Garish decals removed, you’re welcome)

*”PG&E Shareholders to Pay Pension Benefits for Retiring CEO

SAN FRANCISCO, April 25, 2011 /PRNewswire/ — Earlier today, PG&E Corporation’s (NYSE: PCG) Board of Directors voted to amend the pension benefits for retiring Chairman, CEO and President Peter Darbee to provide that all pension benefits will be funded by the Corporation’s shareholders.

“With Mr. Darbee’s decision to retire, the Board is fully committed to taking steps that demonstrate the company is moving in a new direction,” said Lee Cox, the Board’s Lead Director. “Renewing public faith in PG&E is critical to our future. Today’s decision is another opportunity to show customers, regulators and others that PG&E is listening closely and taking action to earn back their confidence.”

The company announced last week that Darbee will retire effective April 30, 2011. Effective May 1, Cox will serve as interim Chairman, CEO and President of PG&E Corporation until a long-term successor to Darbee is onboard.

PG&E Corporation is a Fortune 200 energy-based holding company, headquartered in San Francisco. It is the parent company of Pacific Gas and Electric Company, California’s largest investor-owned utility. PG&E serves more than 15 million Californians throughout a 70,000 square-mile service area in northern and central California. For more information, visit the Web site at http://www.pgecorp.com.