Pedro Pizarro, chief executive of Edison International, speaks during the CERAWeek by S&P Global conference in Houston, Texas, on March 13, 2025. When it passed, Newsom touted the law’s requirement that utilities must tie executive compensation to their safety record, saying it would keep them accountable. That’s because Edison ties most executive compensation not to safety, but to the company’s financial performance. Scott Johnson, an Edison spokesman, said Tuesday that Pizarro and other company executives holding stock took a financial hit after the fires when the price plummeted. He said that requiring utility executives to hold a significant portion of their stock until retirement would focus their efforts on the company’s long-term success.

Source: Los Angeles Times March 18, 2026 19:01 UTC