Industrials

General Electric names Maersk CFO Carolina Dybeck Happe as its new CFO

Key Points
  • GE named Carolina Dybeck Happe to replace Jamie Miller as the company's CFO and senior vice president, effective in early 2020.
  • Dybeck Happe is currently the CFO and executive vice president of A.P. Moller-Maersk.
  • Miller joined GE in 2008 as chief accounting officer. She later worked as chief information officer, then became president and CEO of GE Transportation.
The General Electric Co. logo is seen on the company's corporate headquarters building in Boston, Massachusetts, U.S. July 23, 2019
Alwyn Scott | Reuters

General Electric announced on Monday that Carolina Dybeck Happe will replace Jamie Miller as the company's chief financial officer and senior vice president in early 2020.

Dybeck Happe is currently the chief financial officer and executive vice president of A.P. Moller-Maersk.

"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," CEO Larry Culp said in a release. "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."

Dybeck Happe spent 16 years at Assa Abloy, seven of which she served as CFO. Over her tenure as CFO at Assa Abloy, she helped the company deliver total shareholder return of more than 160% and double-digit sales and profit growth, the release said.

As CFO of Maersk, Dybeck Happe has executed a substantial deleveraging plan and reshaped the company's portfolio to improve profits.

At GE, Dybeck Happe will not only lead the company's global finance organization but she she will also head GE's digital technology and global operations functions. She will be based in GE's Boston headquarters.

GE announced in late July that CFO Miller will step down from her role. The company said that Miller will leave GE following a "smooth handover."

Miller has been with GE for 11 years and became GE's CFO in October of 2017 during a difficult period for the ailing industrial giant.

Miller joined GE in 2008 as chief accounting officer. She later worked as chief information officer, then became president and CEO of GE Transportation.

"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," Culp said of Miller in the release.

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