PG&E cited potential liabilities from two major wildfires totaling up to $30bn in its bankruptcy announcement Monday

A PG&E executive who resigned one day before the California utility company announced it plans to file for bankruptcy is set to receive $2.5m in severance payment.

PG&E announced CEO Geisha William’s resignation on Sunday night, one day before the company declared its intention to file for bankruptcy by 29 January. Despite the company’s uncertain future, Williams would receive the severance payment as well as her accrued pension benefits, “the same as any employee of the company”, Matt Nauman, a PG&E spokesman, clarified on Monday.

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