PG&E Corp. pcg Chief Executive Geisha Williams has stepped down, the largest California utility said in a statement Sunday night. Executive vice president and general counsel John Simon will take over as interim CEO while the board of directors searches for a replacement, the company said. PG&E shares have tumbled in recent months as it faces tens of billions of dollars in potential liabilities over devastating California wildfires its equipment has caused in recent years. ""While we are making progress as a company in safety and other areas, the board recognizes the tremendous challenges PG&E continues to face," PG&E Chairman Richard Kelly said in a statement Sunday. "Our search is focused on extensive operational and safety expertise, and the Board is committed to further change at PG&E." A number of top PG&E executives have left the company recently, and the state of California has discussed breaking up the utility. Earlier Sunday, Bloomberg News reported PG&E may notify its employees as soon as Monday of a possible bankruptcy filing. PG&E shares are down 26% so far this year, and down 60% over the past 12 months, compared to the S&P 500's spx 3.5% gain in 2019 and 6.8% decline over the past year.