Fresh out of bankruptcy reorganization, PG&E Corp. and combination utility Pacific Gas & Electric Co. (PG&E) expect to have a new executive team in place by the end of this year, management said Thursday.

PGE

Interim CEO Bill Smith discussed the restructuring process and responses to recent wildfires in Northern California during a 3Q2020 earnings conference call.

The company turned a profit with net income of $83 million (4 cents/share) compared with a year-ago loss of $1.6 billion (minus $3.06).

With more than three million of the state’s four million-plus acres of wildfires so far this year in PG&E’s territory, “it has been an historic and very challenging wildfire season for our customers,” said Smith. 

The fires are raging as the San Francisco-based utility is...