Indian-origin executive to take over as senior VP and CFO of General Electric


General Electric has announced that an Indian-origin executive will take over as its Senior Vice President and Chief Financial Officer in September. He will assume this role in addition to his current responsibilities as Chief Financial Officer of GE Aerospace, which he has held since August 2022.

Rahul Ghai will take over as the Senior Vice President and Chief Financial Officer of GE effective September 1, 2023, succeeding Carolina Dybeck Happe. Till the transition becomes effective, Dybeck Happe will continue as an SVP of GE to assist Ghai with the change and 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.”

Ghai began his career in the financial services industry in India and received his MBA from Purdue University and his undergraduate degree in Accounting and Economics from Delhi University. 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.

Prior to joining GE Aerospace, Ghai served as CFO of Otis Elevators since July 2019. His role was critical in managing the business during COVID and in establishing Otis’s credibility with investors and rating agencies. Rahul helped the company deliver EPS CAGR of 16% and margin expansion of 100 bps between 2019 and 2021 after experiencing 7 years of stagnant earnings and declining margins. During this period, the company achieved 20% earnings growth amongst other significant growth and expansions within the company.

Ghai also spent four years as CFO of Harris Corporation in Florida, tripling the company stock price as investors recognized the strategic transformation of the company. He prioritized divesting non-strategic assets and investing in industry-leading technology.

Before joining Harris, Ghai had a strong track record of execution and driving transformation in multiple companies including Aetna Insurance, Carrier Corporation, and UTC Fire and Security. He was involved in several M&A transactions and leading initiatives to improve processes and drive operational savings.

“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,” said Ghai.


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