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General Electric (GE) Picks Ghai as New CFO, Happe to Step Down
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General Electric (GE - Free Report) has chosen Rahul Ghai to succeed Carolina Dybeck Happe as the senior vice president (SVP) and chief financial officer (CFO), effective Sep 1, 2023. Happe will continue to serve as an SVP for a period of time to help with the transition.
The management shuffling comes at a time when GE is in the process of splitting its business into three independent companies. The spin-off of the healthcare unit was completed in January. The company is set to separate GE Vernova (the combined operations of GE Renewable Energy and GE Power) into a public company in 2024. It expects to operate as an aviation-focused company starting in early 2024.
Ghai has been serving as the chief financial officer of GE Aerospace since last August. He will continue with this role besides taking on the additional responsibilities from Sep 1.
As the CFO of General Electric, Ghai will oversee the financial activities of the organization, including accounting and controllership, financial planning and analysis, tax, investor relations, internal audit, and treasury.
GE’s chairman and CEO, H. Lawrence Culp, Jr., lauded Happe saying that over the year, she helped the company reduce debt levels significantly and improve financial and operating performance. She has also played a key role in developing the strategy and execution of the spin-off plans.
Zacks Rank & Key Picks
General Electric carries a Zacks Rank #3 (Hold).
Some better-ranked Industrial stocks are as follows:
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General Electric (GE) Picks Ghai as New CFO, Happe to Step Down
General Electric (GE - Free Report) has chosen Rahul Ghai to succeed Carolina Dybeck Happe as the senior vice president (SVP) and chief financial officer (CFO), effective Sep 1, 2023. Happe will continue to serve as an SVP for a period of time to help with the transition.
The management shuffling comes at a time when GE is in the process of splitting its business into three independent companies. The spin-off of the healthcare unit was completed in January. The company is set to separate GE Vernova (the combined operations of GE Renewable Energy and GE Power) into a public company in 2024. It expects to operate as an aviation-focused company starting in early 2024.
Ghai has been serving as the chief financial officer of GE Aerospace since last August. He will continue with this role besides taking on the additional responsibilities from Sep 1.
General Electric Company Price
General Electric Company price | General Electric Company Quote
As the CFO of General Electric, Ghai will oversee the financial activities of the organization, including accounting and controllership, financial planning and analysis, tax, investor relations, internal audit, and treasury.
GE’s chairman and CEO, H. Lawrence Culp, Jr., lauded Happe saying that over the year, she helped the company reduce debt levels significantly and improve financial and operating performance. She has also played a key role in developing the strategy and execution of the spin-off plans.
Zacks Rank & Key Picks
General Electric carries a Zacks Rank #3 (Hold).
Some better-ranked Industrial stocks are as follows:
Axon Enterprise (AXON - Free Report) sports a Zacks Rank #1 (Strong Buy). The company pulled off a trailing four-quarter earnings surprise of 44.4%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
Axon has an estimated earnings growth rate of 42.9% for the current year. The stock has rallied 18.6% in the year-to-date period.
ABB Ltd presently carries a Zacks Rank #2 (Buy). The company pulled off a trailing four-quarter earnings surprise of 8%, on average.
ABB has an estimated earnings growth rate of 26.5% for the current year. The stock has rallied 23.3% in the year-to-date period.
Allegion (ALLE - Free Report) presently carries a Zacks Rank #2. The company delivered a trailing four-quarter earnings surprise of 12.5%, on average.
Allegion has an estimated earnings growth rate of 16.3% for the current year. The stock has gained 3.8% in the year-to-date period.