Form 8-K · Current report
GE Vernova 8-K, filed Aug 27, 2026
- Filed
- CIK
- 0001996810
- Accession no.
- 0001996810-26-000153
Summary
GE Vernova said Chief Financial Officer Kenneth Parks will retire on April 2, 2027, and that Claire McDonough, CFO of Rivian Automotive since January 2021, will become its CFO effective January 1, 2027. McDonough will join GE Vernova as strategic advisor to CEO Scott Strazik on November 1, 2026, while Parks serves as strategic advisor from January 1, 2027 until his retirement date.
Key points
- Parks' resignation agreement provides continued salary and benefits through the retirement date, eligibility for a 2026 annual incentive bonus and a prorated 2027 bonus at target performance, and forfeiture of unvested equity awards as of the retirement date.
- McDonough's offer letter provides a $1,000,000 base salary, a target annual incentive opportunity of 100% of base salary (prorated for 2026), and a 2027 long-term incentive award with a target grant value of $5,225,000.
- The offer letter also includes make-whole awards for compensation forfeited on leaving her current employer: a one-time $14,500,000 LTIP award split evenly between RSUs and PSUs, and a $5,000,000 cash sign-on payment repayable in full if she resigns within 12 months or engages in conduct constituting Cause.
- Before Rivian, McDonough held roles at J.P. Morgan and Fairway Market and has served on AutoZone's board of directors since April 2025.
- GE Vernova said McDonough was not selected pursuant to any arrangement or understanding and has no family relationship with any company director or executive officer.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
From the filing
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On August 25, 2026, Kenneth Parks, Chief Financial Officer of GE Vernova Inc. (the "Company"), has decided to retire on April 2, 2027 (the "Retirement Date"). From the six months preceding the Company's spin-off through the present day, Mr. Parks' insight and guidance have been invaluable at critical moments in GE Vernova's success, and he has been a trusted partner to Chief Executive Officer Scott Strazik and a vital resource to the Board of Directors and the Company's businesses. …
An excerpt of the text as filed with the SEC, cut for length.
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