New York (CNN Business) Embattled utility PG&E, facing potentially billions of dollars in liability over California's deadly wildfires last year, has replaced its CEO.

The company said Sunday night that CEO Geisha Williams has stepped down. She will be replaced temporarily by John Simon. The PG&E ( PCG ) board said it would look to hire a new chief executive with "extensive operational and safety expertise."

"While we are making progress as a company in safety and other areas, the Board recognizes the tremendous challenges PG&E continues to face," said Richard Kelly, chair of PG&E's board. "We believe John is the right interim leader for the company while we work to identify a new CEO."

Williams had been CEO since 2017.

Reuters reported January 7 that the company was looking into filing for bankruptcy protection. The stock has since fallen 28%.

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