GE Vernova will appoint Claire McDonough as chief financial officer on January 1, 2027, succeeding Kenneth Parks, who will retire on April 2, 2027. Her offer includes a $1,000,000 base salary. The staged handoff places McDonough in a strategic advisor role on November 1, 2026, while Parks advises through the retirement date.

Key Highlights

  • Claire McDonough will become GE Vernova’s chief financial officer on January 1, 2027.
  • Kenneth Parks will retire on April 2, 2027, after serving as a strategic advisor during the transition.
  • McDonough’s offer includes a $1,000,000 base salary and a $14,500,000 one-time LTIP award.

GE Vernova Inc. (NYSE: GEV) will appoint Claire McDonough as chief financial officer on January 1, 2027, succeeding Kenneth Parks, who will retire on April 2, 2027. McDonough’s offer provides for a base salary of $1,000,000.

McDonough Brings CFO Experience

Before joining Rivian, she held various positions at J.P. Morgan and Fairway Market. McDonough has been a director of AutoZone since April 2025.

Offer Sets Executive Terms

The offer letter gives McDonough a target Annual Incentive Plan opportunity equal to 100% of base salary, prorated for 2026.

A separate one-time LTIP award is valued at $14,500,000. The award consists of 50% RSUs and 50% PSUs. The RSUs vest over three years in portions of 33%, 33% and 34%, while the PSUs vest after three years.

Parks Retirement Terms

Parks’ retirement agreement provides for continued salary and benefits through April 2, 2027.

The 2027 Bonus is payable after the retirement date. Unvested Equity awards are forfeited as of that date.

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