Leo P. Denault, Former Chairman and Chief Executive Officer of Entergy Corporation, to Join PG&E Boards of Directors

Rhea-AI Summary

PG&E (NYSE: PCG) has announced the appointment of Leo P. Denault to the Boards of Directors of PG&E and Pacific Gas and Electric Company, effective February 19, 2025. Denault, who served as Chairman and CEO of Entergy from 2013 to 2022, brings significant utility sector experience, having transformed Entergy into a premier utility with one of the nation's cleanest energy portfolios.

During his tenure at Entergy, Denault focused on system reliability, resilience, and financial stability while streamlining operations and controlling costs. He previously served as Entergy's Executive Vice President and CFO, and held leadership positions at Public Service Company of Indiana. Currently, Denault serves on the board of Huntington Ingalls Industries and is a Senior Advisor to ArcLight, focusing on power and utility infrastructure investments.

Positive

• Appointment of experienced utility sector executive with proven track record in operational efficiency
• Addition of board member with expertise in system reliability and cost control
• Strategic alignment with clean energy portfolio development experience

Negative

• None.

OAKLAND, Calif., Dec. 16, 2024 /PRNewswire/ -- PG&E Corporation (NYSE: PCG) today announced the appointment of Leo P. Denault to the Boards of Directors of PG&E Corporation and its subsidiary, Pacific Gas and Electric Company, effective February 19, 2025. As Chairman and Chief Executive Officer of Entergy Corporation from 2013 to 2022, Denault transformed the company into a premier utility with one of the nation's cleanest energy portfolios.

At Entergy, Denault led the charge to invest in the reliability and resilience of the energy system while maintaining financial stability. Under his leadership, Entergy focused on streamlining its operations and controlling costs.

"With decades of executive leadership experience in the utility sector, Leo will be invaluable in helping PG&E continue to improve its operational, safety and financial performance to better serve our customers," said Kerry Cooper, Chair of the Board of PG&E Corporation.

Before serving as Chairman and Chief Executive Officer, Denault was Entergy's Executive Vice President and Chief Financial Officer as well as Vice President, Corporate Development and Strategic Planning. Denault started his utility industry career with Public Service Company of Indiana, which later became Cinergy Corporation and Duke Energy Corporation. During his nearly 20 years there, he rose to the position of Vice President, Corporate Development before leaving to join Entergy.

"I am honored and excited to serve on PG&E's Boards to support CEO Patti Poppe and her leadership team in their essential work to provide energy to more than 16 million Californians in ways that best meet customers' needs," said Denault.

Denault currently serves on the board of Huntington Ingalls Industries, a large defense contractor with a nuclear services business related to the power industry. He is a Senior Advisor to ArcLight, a leading middle-market infrastructure investor, focused on new investments across the power and utility infrastructure sectors. Denault is also on the private board of Alpha Generation, which manages critical power infrastructure to help meet the growing needs of electrification.

Denault holds an MBA from Indiana University and a bachelor's in economics and accounting from Ball State University.

About PG&E Corporation

PG&E Corporation (NYSE: PCG) is a holding company headquartered in Oakland, California. It is the parent company of Pacific Gas and Electric Company, an energy company that serves 16 million Californians across a 70,000-square-mile service area in Northern and Central California. For more information, visit http://www.pgecorp.com. In this press release, they are together referred to as "PG&E."

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SOURCE PG&E Corporation

FAQ

When will Leo Denault join PG&E's (PCG) Board of Directors?

Leo Denault will join PG&E's Board of Directors effective February 19, 2025.

What was Leo Denault's role at Entergy before joining PG&E (PCG)?

Denault served as Chairman and CEO of Entergy from 2013 to 2022, and previously held positions as Executive Vice President and CFO.

What experience does Leo Denault bring to PG&E's (PCG) board?

Denault brings decades of utility sector experience, having transformed Entergy into a premier utility with one of the nation's cleanest energy portfolios, focusing on system reliability, resilience, and financial stability.

What other board positions does PG&E's (PCG) new director Leo Denault currently hold?

Denault currently serves on the board of Huntington Ingalls Industries and is a Senior Advisor to ArcLight, focusing on power and utility infrastructure investments.