Stock Alert: PG&E Rises 6% After CEO Appointment

(RTTNews) - Shares of PG&E Corp. (PCG) are gaining almost 6 percent or $0.68 in Wednesday's morning trade at $12.40 after the California-based utility announced the appointment of a new chief executive officer.

PG&E Corp., which emerged from Chapter 11 Bankruptcy in July, said Wednesday it has appointed Patricia Poppe as CEO and member of its board of directors as well as of the board of directors of Pacific Gas and Electric Co. Poppe will take over from Interim PG&E CEO William Smith on January 4, 2021.

Poppe currently serves as President and CEO of CMS Energy Corp. (CMS) and its principal subsidiary, Consumers Energy Company, an investor-owned utility.

PG&E Corp. has traded in a range of $6.25 to $18.34 in the past 52 weeks.