PG&E Corp. and Pacific Gas and Electric Co. executives during the second quarter earnings call, the first in 18 months, illustrated the heavy lifting ahead to reduce debt, withstand another wildfire season and complete a reorganization in the aftermath of Chapter 11 bankruptcy.

Interim CEO Bill Smith during the quarterly call touched on wildfire mitigation plans and efforts to find a permanent chief by the end of this year to lead the transformation, noting that utility President/CEO Andrew Vesey also is stepping down.

“With our emergence from Chapter 11, this is a natural inflection point for leaders to evaluate their future, and we’ll continue to build our team through internal and external hires,” Smith said. Risk reduction, safety and reliability are essential to...