8-KItem 5.02 · Officer/Director Change
GE Vernova names Rivian CFO Claire McDonough as successor
Filed with the SEC on · Summarized by InvestorsBot
GE Vernova CFO Kenneth Parks will retire on April 2, 2027, serving as a strategic adviser to CEO Scott Strazik from January 1 until his retirement; Claire McDonough, Rivian’s CFO since January 2021, will join as an adviser November 1 and become CFO January 1. McDonough’s package includes a $1 million salary, a 100% target annual incentive, a $5.225 million target LTIP award, a $14.5 million make-whole equity award and a $5 million cash sign-on payment. Parks will receive salary and benefits through retirement, remain eligible for 2026 and prorated 2027 bonuses, and forfeit unvested equity at retirement.