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Pacific Gas and Electric taps former AES executive as CEO

Bankrupt California utility Pacific Gas and Electric Co. named Andrew Vesey as president and CEO, effective Aug. 19.

Vesey, who has more than 35 years of diverse utility industry experience, most recently served as managing director and CEO at Sydney-based AGL Energy Ltd. Before that, Vesey was COO of AES Corp., the PG&E Corp. subsidiary said in an Aug. 13 Form 8-K filing.

Vesey will receive an annual base salary of $1 million and a one-time cash transition payment of $1 million, subject to the approval of the U.S. Bankruptcy Court for the Northern District of California.