Carolina Dybeck Happe Leads GE’s Transformation into Three Companies

Carolina Dybeck Happe, the CFO of General Electric, has been a driving force behind the company’s recent transformation. Working closely with CEO Larry Culp, she has led GE’s transition into three independent, investment-grade public companies. This transformation, culminating in the final spin-off of GE Vernova in early 2024, marks a significant milestone in GE’s history.

Carolina’s journey to the C-Suite began in Sweden, where she grew up. Recognizing the need for global experience, she ventured abroad early in her career, eventually landing her first CFO role in Germany at the age of 29. Despite not meeting the initial job requirements, her strategic vision and operational expertise made her the ideal candidate for the position.

With a career spanning seven countries and multiple industries, Carolina has developed a unique perspective on financial leadership. Her ability to speak four languages has facilitated her success in building relationships across borders. She emphasizes the importance of the CEO-CFO relationship, citing her partnership with Larry Culp as a key factor in GE’s transformation.

Carolina’s approach to value creation is grounded in operational excellence and strategic capital allocation. She highlights the importance of being a change agent and staying agile in today’s rapidly evolving business landscape. By focusing on driving innovation and maintaining operational discipline, she believes companies can generate long-term value.

GE’s transformation into three separate entities—GE HealthCare, GE Aerospace, and GE Vernova—represents a historic shift for the company. Carolina sees this as an opportunity to have a greater impact on important industries such as healthcare, aerospace, and energy. She finds purpose in driving these businesses forward and is proud to be part of such a significant change.

Reflecting on her experience at GE, Carolina emphasizes the importance of having a clear mission and staying focused on delivering results. She credits her success to her ability to adapt to different situations and build strong, empowered teams. Looking ahead, she believes that technology, especially AI, will play a crucial role in reshaping financial leadership.

In closing, Carolina offers advice to the next generation of CFOs. She encourages them to focus on delivering results in their current roles and to seize opportunities when they arise. She emphasizes the importance of teamwork and empowerment, believing that these qualities are essential for success in the fast-paced world of finance.