GE stock slips after CFO Dybeck Happe to step down in September, after 3 1/2-years in the role

Shares of General Electric Co.
GE,
+2.31%
fell 0.3% in premarket trading Thursday, after the aerospace and renewable energy company said Chief Financial Officer Carolina Dybeck Happe will step down from the role, effective Sept. 1, after being CFO since March 2020. The company said Dybeck Happe will be succeeded as CFO by Rahul Ghai, who has been CFO of GE Aerospace since August 2022. Dybeck Happe will remain at GE as a senior vice president “for a period of time” to assist with the transition, and to prepare GE for the planned spinoff of GE Vernova, which is expected to occur in early 2024. After the GE Vernova spinoff, GE will operate as GE Aerospace. GE’s stock has soared 58.3% year to date through Wednesday, while the Industrial Select Sector SPDR exchange-traded fund
XLI,
+1.72%
has gained 1.1% and the S&P 500
SPX,
+1.19%
has gained 8.3%.