PG&E Names Tony Earley As New CEO

Bank of America published in a report today that Tony Earley has been named Chairman, President and CEO of PG&E Corporation PCG. In the report, Bank of America writes, "In a long awaited announcement, PCG named Tony Earley as Chairman, President and CEO effective September 13, 2011. Mr. Earley was most recently the Chairman of DTE, and from 1998 to 2010 was the CEO of DTE Energy. Previously, Mr. Earley has also been Chairman of EEI and the Nuclear Energy Institute. We believe Mr. Earley had a solid track record at DTE and his experience should benefit PCG." PG&E Closed yesterday at $39.64 and is currently Buy rated at Bank of America.