By Thomas Gryta Updated Nov. 25, 2019 7:13 am ET General Electric Co. said it hired an executive at A.P. Moeller-Maersk A/S as its next chief financial officer, tapping another outsider to help the American conglomerate turn around its operations.
GE CEO Larry Culp, the first outsider to run the conglomerate, said in July he was looking to hire a new finance chief. The company is trying to turn around its business after two difficult years that forced it to slash its dividend and shed businesses. Wall Street analysts long suspected that Mr. Culp, who took over in October 2018, would want to have his own CFO in place, but Ms. Miller held on for more than a year before her boss decided to make a change.
Ms. Miller was the first woman in the CFO role at GE. She was promoted into the job in October 2017 after former CFO Jeff Bornstein abruptly announced his retirement. Within weeks, GE slashed its financial forecasts and its dividend as problems in its power business and financial services arm came to light. Within months, GE revealed a $15 billion hole in its legacy insurance holdings and the regulatory probes.
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Too little too late.
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GE Label looks like Chinese Character 🐲，especially in Italic Written，龍
Not much of a sense of urgency down there at GE.
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