PG&E adds John Larsen to its Boards of Directors

OAKLAND, Calif. - PG&E Corporation (NYSE:PCG) and its subsidiary Pacific Gas and Electric Company have announced the appointment of John O. Larsen to their Boards of Directors following the Annual Meetings of Shareholders held on May 22, 2025.

John O. Larsen, with a 36-year tenure at Alliant Energy Corporation, brings to PG&E a wealth of experience in utility operations and customer engagement. During his career at Alliant, he held several key leadership roles and was instrumental in implementing the company’s Clean Energy Blueprint, focusing on sustainable energy investments and resilient infrastructure.

Kerry W. Cooper, Chair of the Board of PG&E Corporation, expressed confidence in Larsen’s ability to contribute to PG&E’s ongoing efforts to enhance operational and safety performance for the benefit of its customers.

Larsen’s addition to the boards is part of PG&E’s broader strategy to strengthen its leadership as the company continues to evolve. He will serve on the Safety and Nuclear Oversight, and People and Compensation committees, bringing his extensive industry knowledge to these critical areas.

In addition to his new role at PG&E, Larsen is also a member of the Board of Directors for TruStage Financial Group, Inc. His previous board service includes positions at Alliant Energy Corporation, the American Transmission Company Management, Inc., Edison Electric Institute, and the Electric Power Research Institute. He holds a Bachelor of Science in Electrical Engineering from the University of North Dakota.

PG&E serves approximately 16 million Californians over a 70,000-square-mile area in Northern and Central California. The company is focused on delivering safe, reliable, and sustainable energy solutions. This announcement is based on a press release statement from PG&E Corporation.

In other recent news, PG&E Corporation reported its first-quarter earnings for 2025, revealing a slight miss in expectations. The company posted an earnings per share (EPS) of $0.33, which fell short of the forecasted $0.34, and revenue was reported at $5.98 billion, slightly below the anticipated $6.02 billion. Despite these figures, PG&E reaffirmed its full-year EPS guidance of $1.48 to $1.52. Analysts from Guggenheim and Mizuho have adjusted their price targets for PG&E, with Guggenheim increasing it to $17.00 while maintaining a Neutral rating, and Mizuho reducing it to $20.00 but keeping an Outperform rating.

PG&E is also focusing on a significant $63 billion capital investment plan through 2028, aiming for a 10% EPS growth for 2025. The company is making efforts to achieve an investment-grade credit rating and is securing funding through a low-cost loan from the Department of Energy. PG&E has a robust demand pipeline from data centers, totaling 8.7 gigawatts, which is expected to contribute to future growth. The company’s management has emphasized its strategy to avoid double-digit revenue increase requests while supporting industry-leading rate base growth. These developments come amidst ongoing attention to legislative solutions for wildfire costs, a pivotal factor for PG&E’s operational and financial landscape.

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