PG&E 2008 Annual Report Download - page 152

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150
PERMANENT COMMITTEES OF THE BOARDS OF DIRECTORS OF
PG&E CORPORATION AND PACIFIC GAS AND ELECTRIC COMPANY(1)
EXECUTIVE COMMITTEES(1)
Subject to certain limits, may exercise the powers and perform
the duties of the Boards of Directors.
Peter A. Darbee, Chair
David R. Andrews
C. Lee Cox
Maryellen C. Herringer
Barbara L. Rambo
Barry Lawson Williams
AUDIT COMMITTEES(1)
Monitor the integrity of PG&E Corporation’s and Paci c Gas
and Electric Company’s  nancial statements. Review  nancial
and accounting practices; internal controls; external and internal
auditing programs; business ethics; and compliance with laws,
regulations, and policies that may have a material impact on
the Consolidated Financial Statements. Select and appoint the
independent registered public accounting  rm to audit PG&E
Corporation’s and Paci c Gas and Electric Company’s accounts
and internal control over  nancial reporting, satisfy themselves
as to the independence and quali cations of the independent
registered public accounting  rm, and pre-approve all audit and
non-audit services performed by the independent registered
public accounting  rm. Review and oversee related party
transactions. Discuss guidelines and policies for assessing and
managing major risks. Review processes used by Board committees
to monitor and control major  nancial risk exposures.
Barry Lawson Williams, Chair
David R. Andrews
Maryellen C. Herringer
Mary S. Metz
COMPENSATION COMMITTEE
Reviews employment, compensation, and bene ts policies and
practices. Recommends compensation for directors and the
chief executive o cers of PG&E Corporation and Paci c Gas
and Electric Company. Reviews and approves compensation for
other senior o cers. Oversees the development, selection, and
compensation of policy-making o cers, and reviews long-range
planning for o cer development and succession.
C. Lee Cox, Chair
Barbara L. Rambo
Barry Lawson Williams
FINANCE COMMITTEE
Reviews  nancial and capital investment policies and objectives
and speci c actions required to achieve those objectives;
long-term  nancial and investment plans and strategies; annual
nancial plans; dividend policy; short-term and long-term
nancing plans; proposed capital projects; proposed divestitures;
strategic plans and initiatives; and major commercial and
investment banking,  nancial consulting, and other  nancial
relationships. Discusses major  nancial risk exposures and
steps taken to monitor and control them. Annually reviews a
ve-year nancial plan that incorporates PG&E Corporation’s
business strategy goals, as well as an annual budget that re ects
elements of the approved  ve-year plan.
Barbara L. Rambo, Chair
C. Lee Cox
Barry Lawson Williams
NOMINATING AND GOVERNANCE COMMITTEE
Reviews the appropriate skills and characteristics required of
Board members, and the quali cations of Board candidates.
Recommends nominees for election as director. Recommends
the chairmanship and membership of Board committees and
the nominees for lead director. Reviews corporate governance
matters, including shareholder proposals and the Corporate
Governance Guidelines of PG&E Corporation and Paci c Gas
and Electric Company.
Maryellen C. Herringer, Chair
David R. Andrews
Richard A. Meserve
Barbara L. Rambo
PUBLIC POLICY COMMITTEE
Reviews public policy and corporate responsibility issues that
could signi cantly a ect the interests of customers, shareholders,
or employees; policies and practices with respect to protecting
and improving the quality of the environment, charitable
activities, political contributions, diversity, inclusion, and work-
force development, and development of diverse suppliers; and
signi cant societal, governmental, and environmental trends and
issues that may a ect operations.
David R. Andrews, Chair
Richard A. Meserve
Mary S. Metz
(1) Except for the Executive and Audit Committees, all committees listed
above are committees of the PG&E Corporation Board of Directors.
The Executive and Audit Committees of the PG&E Corporation
and Pacifi c Gas and Electric Company Boards have the same members.