PG&E will pay for Darbee's retirement package

April 21, 2011 12:00:00 AM PDT
PG&E says its shareholders will pay for the entire $35 million retirement package of the company's CEO.

State regulators had initially indicated the utility's customers might have to pick up part of the cost of Peter Darbee's compensation, but the company's board of directors has amended the benefits package so PG&E will bear the entire cost.

In a statement, PG&E says it is trying to renew customer faith in the company.