GE (NYSE: GE) has announced a change in its Chief Financial Officer (CFO) position. Starting from September 1, 2023, Rahul Ghai will take on the role of Senior Vice President and CFO of GE, succeeding Carolina Dybeck Happe. In addition to this new responsibility, Ghai will continue his current position as CFO of GE Aerospace, which he has held since August 2022. Dybeck Happe will remain as an SVP of GE for a period of time to support the transition and ongoing efforts in preparation for the planned spin-off of GE Vernova.
- Lawrence Culp, Jr., Chairman and CEO of GE, as well as CEO of GE Aerospace, expressed his confidence in Ghai’s leadership and extensive experience as a public company CFO and in the spin-off process. Culp sees this as an opportune time for the change, as GE moves forward with the launch of GE Vernova and GE Aerospace as independent entities. He looks forward to partnering with Ghai in this additional capacity.
In his new role as CFO, Ghai will be responsible for overseeing GE’s global finance organization and financial activities, which include accounting and controllership, financial planning and analysis, tax, investor relations, internal audit, and treasury. Prior to joining GE Aerospace, Ghai served as the Executive Vice President and CFO of Otis Worldwide Corporation. He has also held senior finance positions at Harris Corporation, Aetna, and United Technologies Corp.
Culp expressed his appreciation for Dybeck Happe’s contributions in recent years, acknowledging her efforts in reducing GE’s debt, improving financial and operational performance, and spearheading the strategy and execution of the spin-off plan. Under her leadership, GE’s finance teams have become stronger operational partners, providing valuable insights for driving performance and enhancing the focus on free cash flow. Culp is grateful for Dybeck Happe’s significant contributions in restoring GE’s strength and looks forward to collaborating with her during the remaining months of the transformative journey.
Prior to joining GE, Dybeck Happe served as CFO at Maersk and spent 16 years at Assa Abloy, including a seven-year tenure as CFO.
