GE Names Carolina Dybeck Happe As Chief Financial Officer

Nov 25, 2019

Boston, November 25, 2019 - GE (NYSE: GE) today announced that Carolina Dybeck Happe, Chief Financial Officer and Executive Vice President of A.P. Moller-Maersk, has been named Senior Vice President and Chief Financial Officer of GE, effective in early 2020.

GE Chairman and CEO H. Lawrence Culp, Jr., said, “Carolina is a proven global CFO with a superior track record of delivering results and creating value. After a rigorous global search process, I’m excited to welcome Carolina to GE. She is a high-impact executive who brings a compelling blend of strategic and capital allocation discipline, well-honed operating skills, and transformational leadership abilities. She will be a strong partner as we execute our deleveraging plan and improve our operating results to position GE for sustainable, long-term value creation.”   

As CFO, Ms. Dybeck Happe 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. She will also lead GE’s digital technology and global operations functions. Ms. Dybeck Happe will be based in GE’s Boston headquarters.

Ms. Dybeck Happe’s experience spans regulated and deregulated industries as well as short- and long-cycle businesses. She spent 16 years at Assa Abloy, including seven as CFO, playing a key role in transforming the company from a regional player into a global, digitally enabled leader across multiple domains. Over her tenure as CFO, she helped the company deliver total shareholder return of more than 160 percent and double-digit sales growth, profit growth, and return on invested capital.

As CFO at Maersk, she has been instrumental in driving strategic and structural change amidst significant market disruption, including executing a substantial deleveraging plan and reshaping the company’s portfolio to deliver more profitable growth. She has been recognized as a top-ranked CFO in European capital goods multiple years by numerous leading publications and associations, and she is also an accomplished director in the energy and electrical equipment industries, serving on the Boards of Directors of E.ON and Schneider Electric.

Ms. Dybeck Happe said, “I’ve admired GE’s team, technology, and global network and brand, and I am excited to join at a time of significant opportunity for the Company and its stakeholders. I look forward to working with Larry and the team to move GE forward on its financial, operational, and cultural transformation.”

GE CFO Jamie Miller to depart GE

As previously announced, Jamie S. Miller will transition from her current role as SVP and CFO, and she will leave the company following a smooth handover.

Culp said, “Jamie Miller exemplifies the spirit and dedication of our entire organization. Over her many years and roles with GE, she has been a resilient, respected leader and a mentor to many, especially our finance organization. She has been instrumental in developing our portfolio strategy, furthering our efforts to make GE a more focused industrial company, and spearheading our deleveraging plan during a challenging period. I’d like to thank Jamie both personally and on behalf of the Company for her service and contributions.”

About GE:

GE (NYSE:GE) drives the world forward by tackling its biggest challenges. By combining world-class engineering with software and analytics, GE helps the world work more efficiently, reliably, and safely. For more than 125 years, GE has invented the future of industry, and today it leads new paradigms in additive manufacturing, materials science, and data analytics. GE people are global, diverse and dedicated, operating with the highest integrity and passion to fulfill GE’s mission and deliver for our customers. www.ge.com

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Mary Kate Mullaney
Director, Financial & Executive Communications
GE
marykate.nevin@ge.com
Steve Winoker
Vice President, Investor Relations
617.443.3400
swinoker@ge.com