GE Vernova Appoints Rivian's Claire McDonough as New CFO

GE Vernova Inc. (CIK: 0001996810) has announced a significant leadership transition in its finance department.

CFO Retirement and Succession:

• Departure: Kenneth Parks, the current Chief Financial Officer, will retire on April 2, 2027. He will transition to a role as a strategic advisor to the CEO from January 1, 2027, until his retirement, ensuring a smooth handover.
• Appointment: Claire McDonough has been appointed as the new Chief Financial Officer, effective January 1, 2027. She will join the company on November 1, 2026, as a strategic advisor ahead of her official appointment.

New CFO Profile:

• Ms. McDonough, age 45, is a high-profile hire, currently serving as the CFO of Rivian Automotive, Inc. since January 2021. Her experience at a major player in the electric vehicle industry is notable.

Compensation Details for Incoming CFO: The company has secured Ms. McDonough with a substantial compensation package, detailed in an offer letter dated August 25, 2026:

• Base Salary: $1,000,000
• Annual Bonus: Target of 100% of base salary.
• Annual Equity: A 2027 long-term incentive award with a target value of $5,225,000.
• Make-Whole Awards: To compensate for forfeited compensation from her previous employer, she will receive:
  • A one-time cash sign-on bonus of $5,000,000.
  • A one-time equity award valued at $14,500,000 (split between RSUs and PSUs).

This executive change, particularly the recruitment of a high-caliber CFO from the competitive EV sector with a significant inducement package, underscores GE Vernova's strategic focus on strengthening its financial leadership for future growth.