Geisha Williams

Last updated

Geisha Williams
Born1961or1962(age 62–63)
Cuba
Education University of Miami (BA)
Nova Southeastern University (MBA)
TitleFormer CEO, Pacific Gas and Electric Company
TermMarch 2017 - January 2019
SpouseJay Williams
Children2 daughters

Geisha J. Williams (born Jimenez, c. 1961/1962) [1] is a Cuban American businesswoman. She was the president and CEO of the Pacific Gas and Electric Company (PG&E) from March 2017 to January 13, 2019. [1] [2]

Contents

Early life

Williams was born Geisha J. Jimenez in Cuba. [3] [4] At the age of five, Geisha migrated to the US with her parents, after her father, a political prisoner in Cuba, was released from prison. [4] Her father worked various jobs to provide for his family and went on to own their own grocery store. [4]

She has a bachelor's degree in industrial engineering from the University of Miami and an MBA from Nova Southeastern University. [1]

Career

While at the University of Miami, Williams interned for Florida Power & Light (FPL). She returned to the company after earning her degree, starting as a residential energy auditor. [5] [3] In 2005, she was the company's vice president for distribution and was in charge of the restoration effort after Hurricane Wilma. [6]

Williams joined Pacific Gas and Electric Company (PG&E) in 2007. [1] In 2010, she was Vice President for Energy Delivery, and in 2011, she was put in charge of electric operations. [7] [8]

In March 2017, William became the first Latina chief executive officer of a Fortune 500 company. [9]

She is a director at the Edison Electric Institute, the Institute of Nuclear Power Operations and the Association of Edison Illuminating Companies and is the board chairwoman for the Center for Energy Workforce Development. [10] [ citation needed ]

Compensation criticism

In January 2019, Williams resigned from PG&E as the company struggled to deal with legal and financial repercussions associated with a series of devastating California wildfires, which occurred in 2017 and 2018. [11] The next day, PG&E announced its plans to file for Chapter 11 bankruptcy. [12] [13]

Michael Hiltzik, writing in a column for the Los Angeles Times , criticized Williams' performance as well as PG&E for providing a $10mm+ pay package, which included $2.6mm in severance pay, when Williams left as the company prepared to enter bankruptcy. In 2018, despite the company losing more than $6 billion, Williams had received a pay raise of 8.1%. Hiltzik also reported that "Williams’ compensation encompassed numerous perks, including a car and driver, a $51,000 security system for her home, health club and “executive health” services worth $5,453 and financial services subsidized to the tune of $7,980." [13]

In April 2019, California Governor Gavin Newsom expressed concern that new PG&E board members would have little knowledge of California, and may lack the expertise to safely run a utility. [14]

Williams was succeeded by John Simon as interim CEO, then, in May 2019, Bill Johnson became CEO, garnering "more than twice the base salary" of Williams. [15]

Personal life

Williams is married to Jay Williams, and they have two daughters. [3] [4]

She is a board director of the Bipartisan Policy Center [16] and the a trustee of the California Academy of Sciences. [17]

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References

  1. 1 2 3 4 "Geisha J. Williams: Executive Profile & Biography". Bloomberg. Retrieved May 5, 2017.
  2. ↑ Morris, J.D. (January 14, 2019). "PG&E CEO Geisha Williams out amid utility's widening financial crisis - SFChronicle.com". San Francisco Chronicle . Retrieved January 14, 2019.
  3. 1 2 3 Markelz, Michelle (June 16, 2013). "Geisha Williams: Providing Power to the People – Hispanic Executive". Hispanicexecutive.com. Retrieved May 5, 2017.
  4. 1 2 3 4 "PG&E's Bolt of Energy". fortune.com. Retrieved February 28, 2018.
  5. ↑ Calvey, Mark (November 14, 2016). "PG&E names Geisha Williams as CEO and president". www.bizjournals.com. Retrieved June 10, 2024.
  6. ↑ Mayk, Lauren; Zollo, Cathy (October 28, 2005). "Wilma's destruction baffles FPL officials". Sarasota Herald-Tribune. Retrieved June 10, 2024.
  7. ↑ "San Bruno Explosion Aftermath". www.cbsnews.com. September 13, 2010. Retrieved June 10, 2024.
  8. ↑ Baker, David (April 6, 2011). "2 top execs will resign as PG&E reorganizes" . Retrieved June 10, 2024.
  9. ↑ Draznin, Haley. "A former refugee, she's now the first Latina CEO of a major US company". CNNMoney. Retrieved January 1, 2019.
  10. ↑ "Four New Members Elected to Serve on the California Academy of Sciences' Board of Trustees". blog.calacademy.org. Retrieved June 10, 2024.
  11. ↑ Tobin, Ben. "PG&E ex-CEO receives $2.5 million in severance as company announces plans for bankruptcy". USA TODAY. Retrieved June 10, 2024.
  12. ↑ "PG&E Chief Executive Geisha Williams leaves as utility readies for possible bankruptcy". Los Angeles Times. Retrieved January 23, 2019.
  13. 1 2 "Column: Ex-CEO Geisha Williams steered PG&E into bankruptcy, but still got a big raise". April 29, 2019.
  14. ↑ Brekke, Dan (March 28, 2019). "Governor Blasts PG&E, Says Utility Is Focused on 'Quick Profits' Over Safety". KQED. Archived from the original on March 29, 2019. Retrieved March 29, 2019.
  15. ↑ "New PG&E CEO to rake in a salary more than double that of Geisha Williams, his predecessor"; Hannah Norman; San Francisco Business Times; Apr. 16, 2019.
  16. ↑ "Geisha Williams | Bipartisan Policy Center".
  17. ↑ "Leadership".
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