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PG&E's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Let me shift to the steps we're taking to position the company for long-term success starting with the gas business. We're maintaining the momentum that we established last year with safety improvement efforts in gas operations, and Chris is going to provide you with lots more detail on what's planned for 2012.

We've also now essentially completed the restructuring of the gas business, which has significantly improved accountability and the expertise in the organization. Recently, several highly experienced gas industry veterans have come onboard, filling our remaining vacancies for vice presidents overseeing key areas in gas operations. By the end of this quarter, we hope to complete the last of our high-level hires and have the team completely in place. We're also continuing to add new talent in other areas of the company. This includes officers with excellent credentials in customer care and information technology, which clearly are areas that where we can benefit from their deep expertise.

And then most recently, we announced the hiring of Ed Halpin from the South Texas Project as the Senior Vice President and Chief Nuclear Officer. Ed's full-time presence at Diablo Canyon build even greater depth into an already strong nuclear program that we've got.

All of these additions to the team give me greater confidence that we're making the changes necessary to achieve a new level of performance and operations in customer service. Everyone on the team is focused on safety compliance and continuous improvement and working to close the gaps between where we are today and where we need to go to deliver outstanding service to our customers.

Read the rest of this transcript for free on seekingalpha.com

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