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[$$] PG&E Close to Naming New CEO, New Board

PG&E Corp. is likely to name Bill Johnson, retiring head of the Tennessee Valley Authority, as its new chief executive as early as next week and to announce an overhaul of its board backed by some of its largest investors, according to people familiar with the matter. Mr. Johnson would take the reins of the troubled California utility, operating under federal bankruptcy protection as it faces a fight to survive billions of dollars in potential liability costs from deadly wildfires. PG&E has made offers to 10 new independent board candidates and is expected to unveil the slate as soon as next week, saying it has significant shareholder support, people familiar with the matter said.