General Electric names new CFO

General Electric (GE), a US industrial conglomerate, has named its new Chief Financial Officer (CFO) as Jamie Miller, the previous head of the company’s transportation unit.

Miller has been with GE since 2008, having acted as Vice President, Chief Accounting Officer, Chief Information Officer, in addition to her current role, throughout her 10 year tenure with the company.

Miller’s promotion comes as one of a number of changes that new CEO John Flannery has made since being appointed on 1 August, with the CEO also having been made Chairman of the Board this week after Jeff Immelt retired earlier than expected.

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She will replace current CFO and Vice-Chairman Jeffrey Bornstein, a man who has served GE for 28 years. It is the “right time to bring in a new CFO with a fresh perspective to guide GE's ongoing efforts to reduce costs, drive growth, improve our performance, and enhance shareholder value,” Bornstein said.

GE Chairs Beth Comstock and John Rice have also announced that they will be retiring at the years end, in line with the company overhaul and its new era.

Miller’s new appointment as CFO will take effect on 1 November.