GE Vernova announced that Chief Financial Officer Kenneth Parks will retire on April 2, 2027. He will serve as a strategic advisor to CEO Scott Strazik from January 1 through the retirement date. Claire McDonough, currently CFO of Rivian Automotive, will succeed Mr. Parks effective January 1, 2027, joining as a strategic advisor on November 1, 2026. Ms. McDonough’s compensation package includes a $1,000,000 base salary, a target annual incentive equal to 100% of base salary, and a long-term equity award valued at $5,225,000. She will also receive a one-time make-whole award valued at $14,500,000 consisting of restricted stock units and performance share units, plus a $5,000,000 cash sign-on payment subject to repayment if she resigns within 12 months or is terminated for cause. GE Vernova operates in the power generation and grid infrastructure industry.

GE Vernova Inc. reported second-quarter 2026 financial results, including $11.1 billion in revenue and $5.1 billion in free cash flow, which exceeded 2025 full-year levels. The company raised its 2026 financial guidance, increasing revenue expectations to $45.5-$46.5 billion and free cash flow to $11.5-$12.5 billion. GE Vernova is an energy technology and electrification company providing power, and wind, and electrification segments.