TVA did not have an immediate comment, while PG&E did not respond to a request for comment on Saturday. A trio of activist investors, that together own nearly 10 percent of PG&E stock, has been working with the company to change its management, the Journal reported. The three hedge funds, Abrams Capital Management LP, Knighthead Capital Management LLC and Redwood Capital Management LLC, said in a filing on Friday they had agreed with PG&E to work together to appoint a new CEO and refresh its board. http://bit.ly/2HqIxyMThe board slate they have helped PG&E assemble is expected to include experts on cybersecurity, nuclear security and restructurings, the Journal said. It also said it expected the board to include 11 independent directors by the time of the meeting, without specifying how big the board would finally be.

Source: Wall Street Journal March 17, 2019 00:11 UTC