Carolina Dybeck Happe, the Chief Financial Officer (CFO) of General Electric (GE), has announced her resignation from the position. The news comes as GE prepares to complete the separation of its businesses early next year. Ms Dybeck Happe had been instrumental in reducing debt levels and stabilising cash flow amid the COVID-19 pandemic. As part of her departure, Rahul Ghai will succeed her as CFO from September 1st. Mr Ghai is currently the finance chief of GE Aerospace, a position he has held since August last year. Ms Dybeck Happe will step down as CFO after the separation of businesses, but will continue as an SVP of GE to assist with the transition.
GE CEO Larry Culp announced last year that the company will split into three public companies focusing on energy, healthcare and aviation. Following the recent completion of the spin-off of the healthcare unit, the company aims to complete the separation of the energy unit in early 2022. The announcement of Ms Dybeck Happe’s departure as CFO attracted varied reactions in the market.
Top 10 Fintech CFOs Identified in Recent Article
A recent article identified the top 10 Chief Financial Officers (CFOs) who are currently leading the way in the fintech industry. The CFO of Coinbase, Andrew Eiden, is a former head of strategy at OneWest Bank. Meanwhile, Kristina Campbell is the CFO of Ripple, with previous experience at PayNearMe and GreenDot. The CFO of Checkout.com is Céline Dufétel, who previously worked at T. Rowe Price and Neuberger Berman. Amrita Ahuja is CFO of Square and was previously CFO at Activision Blizzard. Matthew Newcomb is the CFO of Chime, having previously co-founded a children’s entertainment company.
Guilherme Lago is the CFO of Brazilian digital bank, Nubank. Sachin Mehra is the CFO for payment giant, Mastercard, and Vasant Prabhu is CFO of Visa. Finally, Bob Hau is CFO of fintech company Fiserv, while Michelle Clatterbuck is CFO of Intuit. The article highlights these CFOs’ work to achieve growth and profitability for their respective companies, offering valuable insights to the fintech industry.
Harley-Davidson CFO to Join Hasbro Inc.
Harley-Davidson’s CFO, Gina Goetter, is set to leave the company at the end of April to become CFO of the toymaker Hasbro Inc. Ms Goetter had played a significant role in Harley’s restructuring plan, “Rewire,” which aimed to phase out less popular bike models and simplify its business strategy by catering to an older customer base. In recent years, Harley has met or beaten Wall Street earnings forecasts amid high inflation and supply chain constraints.
David Viney, Vice President and Treasurer, will assume the position of interim CFO until a permanent replacement for Ms Goetter is found. Her departure will undoubtedly create a major challenge for the iconic motorcycle manufacturer, with shares falling by over 6% on the news. Ms Goetter’s appointment as CFO of Hasbro is effective May 18, as she replaces Deborah Thomas.
In conclusion, Finance Chief Departures Create Volatility
The tumultuous nature of the markets is once again on full display following recent CFO announcements. The resignation of General Electric’s CFO and the departure of Harley-Davidson’s CFO to join Hasbro, caused some volatility in the market. Meanwhile, the fintech industry continues to attract interest, as 10 CFOs are recognised for their outstanding work. It remains to be seen whether these changes in leadership will ultimately be beneficial or detrimental to the companies involved.
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