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Microsoft told employees on Thursday that it has hired Carolina Dybeck Happe as its executive vice president and chief operations officer, reporting to CEO Satya Nadella. Dybeck Happe comes from GE, where she was senior vice president and chief financial officer from 2020 until September 2023. She will join Microsoft's senior leadership team alongside finance chief Amy Hood, cloud and AI engineering leader Scott Guthrie and other executives. GE CEO Larry Culp called Dybeck Happe "a high-impact executive" when GE announced in 2019 that it had picked Dybeck Happe to replace Jamie Miller as chief financial officer. Before that, she spent almost 17 years at Swedish lock company Assa Abloy, where she became chief financial officer and deputy CEO.

Persons: Carolina Dybeck, Satya Nadella, Dybeck Happe, Microsoft's, Amy Hood, Scott Guthrie, Nadella, Dybeck, Rajesh Jha, Larry Culp, Jamie Miller, Kevin Turner, Gene Munster Organizations: Microsoft, GE, Microsoft Digital IT, Microsoft Business Operations, GE Aerospace, GE Vernova, New York Stock Exchange, Maersk, Walmart Locations: Carolina, Swedish

☆ GE finance chief Dybeck Happe to step down
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +1 min

May 18 (Reuters) - General Electric Co (GE.N) said on Thursday Carolina Dybeck Happe would step down as finance chief of the industrial giant, as it prepares to complete the spin-offs of its businesses next year. Rahul Ghai will become the CFO of GE, effective Sept. 1, while retaining his role as the finance chief of GE Aerospace, which he has held since August 2022, the company said in a statement. "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," GE CEO Larry Culp said. Moller-Maersk executive, Dybeck Happe took over as GE's CFO in early 2020. In late 2021, GE announced it would split into three public companies that would focus on energy, healthcare and aviation.

☆ GE’s Finance Chief Sees Future for AI Across Company’s Business
▼ + stars: | 2023-02-08 | by ( Thomas Gryta | ) www.wsj.com time to read: +3 min

General Electric Co. sees a future for using generative artificial intelligence like ChatGPT across its business, from the shop floor to the front office, according to Carolina Dybeck Happe, the company’s chief financial officer. Ms. Dybeck Happe said the use of AI in manufacturing begins with gathering a huge amount of data from different complex systems. A native of Sweden, she joined GE after spending about a year as finance chief of Denmark-based shipping giant A.P. She became GE’s finance chief in early 2020, taking on a role traditionally held by long-term employees of the company, which has long prided itself on its management training. Using artificial intelligence and automation is part of increasing efficiency and quality, Ms. Dybeck Happe said.

☆ GE Healthcare Plans to Reduce Debt and Costs, Pursue Tuck-In Acquisitions
▼ + stars: | 2022-12-08 | by ( Nina Trentmann | ) www.wsj.com time to read: +5 min

As a stand-alone company, GE Healthcare will also look to improve its working capital and lower logistics costs, Mr. Zodl said. GE Healthcare will also take a look at its real estate holdings and target over 100 sites, executives said. Ratings firms S&P Global Ratings, Fitch Ratings and Moody’s Investors Service have all given GE Healthcare an investment-grade rating. PREVIEWApart from reducing debt and costs, GE Healthcare will scout for potential tuck-in acquisition targets, Chief Executive Peter Arduini said. GE retains a 19.9% stake in GE Healthcare.

Oct 25 (Reuters) - General Electric Co (GE.N) on Tuesday trimmed its full-year profit forecast after reporting a decline in third-quarter earnings, primarily due to higher warranty and related reserves at its renewable energy business. The company, which is in the process of breaking up into three companies, is facing challenges at its onshore wind business. The restructuring will also affect jobs at its renewable energy unit's headquarters, he said. The company said corporate restructuring along with cuts at renewable energy business will cost $1.3 billion and generate $950 million in annualized savings. Excluding a $500 million warranty and related reserves at its renewable energy business, quarterly profit would have been 75 cents a share.

☆ GE cuts annual forecast, posts 19% drop in adjusted profit
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +2 min

Oct 25 (Reuters) - General Electric Co (GE.N) reported a 19% drop in adjusted quarterly profit and cut its annual earnings forecast on Tuesday, as it struggles with supply snarls, inflationary pressures and weakness in its renewable energy business. The U.S. industrial conglomerate cut its full-year adjusted profit forecast to $2.40 to $2.80 per share, compared with an earlier expectation of $2.80 to $3.50, primarily driven by warranty costs and reserves at its renewable unit. Register now for FREE unlimited access to Reuters.com RegisterThe company, which is in the process of breaking up into three companies, said adjusted profit fell to $1.06 billion for the quarter through September from $1.32 billion, a year earlier. Reuters reported earlier this month that GE is laying off workers at its renewable business' onshore wind unit. Free cash flow, a closely watched metric, fell about 11% to $1.19 billion in the third quarter.

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