GE Announces Chief Financial Officer Transition

Names Rahul Ghai Chief Financial Officer

BOSTON--(BUSINESS WIRE)-- GE (NYSE: GE) today announced a Chief Financial Officer transition. Rahul Ghai will become Senior Vice President and Chief Financial Officer of GE effective September 1, 2023, succeeding Carolina Dybeck Happe. Mr. Ghai will assume this role in addition to his current responsibilities as Chief Financial Officer of GE Aerospace, which he has held since August 2022. Dybeck Happe will continue as an SVP of GE for a period of time to assist with the transition and continued work to prepare for separation readiness ahead of the planned GE Vernova spin-off.

GE Chairman and CEO and GE Aerospace CEO H. Lawrence Culp, Jr., said, “Since Rahul joined GE Aerospace, we have benefited greatly from his leadership, including his wealth of experience as a public company CFO and with the spin-off process. This is the right time to make this change as GE progresses toward launching GE Vernova and GE Aerospace as standalone businesses, and I look forward to partnering with Rahul in this additional capacity.”

As CFO, Ghai will lead GE's global finance organization and financial activities including accounting and controllership, financial planning and analysis, tax, investor relations, internal audit, and treasury. Ghai joined GE Aerospace from Otis Worldwide Corporation where he served as Executive Vice President and CFO. Prior to Otis, Ghai was Senior Vice President and CFO of Harris Corporation, and earlier in his career, served in executive-level finance roles at Aetna and United Technologies Corp.

“Carolina has played a crucial role over the last few years, helping to significantly reduce GE’s debt, improve our financial and operating performance, and build the strategy and execution of our spin-offs plan against a market backdrop unlike any other that I’ve experienced. Importantly, under Carolina’s leadership, GE’s finance teams have become stronger operational partners to our businesses, creating insights to drive performance while deepening our focus on free cash flow. I am grateful for her many contributions that have helped GE regain its strength, and I look forward to working with her in the coming months as we complete the important work of transforming GE.”

Dybeck Happe joined GE from Maersk where she served as CFO. Prior to Maersk, she spent 16 years at Assa Abloy, including seven years as CFO.

About GE:

GE (NYSE:GE) rises to the challenge of building a world that works. For more than 130 years, GE has invented the future of industry, and today the company’s dedicated team, leading technology, and global reach and capabilities help the world work more safely, efficiently, and reliably. GE’s people are diverse and dedicated, operating with the highest level of integrity and focus to fulfill GE’s mission and deliver for its customers. www.ge.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20230518005487/en/

GE Investor Contact

Steve Winoker, 617.443.3400

swinoker@ge.com

GE Media Contact

Mary Kate Mullaney, 202.304.6514

marykate.nevin@ge.com

Source: GE