“PG&E to Shake Up Board as It Responds to California Wildfire Crisis, The Wall Street Journal, January 5, 2019. Following a 24% drop in market cap following the recent fires in California, the company takes action. See also https://infogovnuggets.com/2019/01/04/catching-up-again-part-2/, Item #13, “PG&E Falsified Gas Safety Records, California Claims,” The Wall Street Journal, December 15, 2018.
When, if ever, is the Board held responsible for what happens at the company? As a matter of Governance, don’t they set the culture? Don’t directors pose a risk to the company and its investors, if the directors do not fulfill their fiduciary duties?