GE HealthCare CFO Jay Saccaro Steps Down
Jay Saccaro, the Chief Financial Officer of GE HealthCare, is leaving the company to pursue a role outside the medtech industry. His last day will be on August 14, and George Newcomb, currently Controller and Chief Accounting Officer, has been named interim CFO while the firm searches for his successor. Saccaro joined GE HealthCare in late 2023 after its spinoff from General Electric but faced challenges such as rising memory chip prices, tariffs, and supply chain disruptions. Analysts expressed surprise at Saccaro's departure, noting that he had performed well despite macroeconomic difficulties. Newcomb brings over three decades of finance leadership experience to his new role. GE HealthCare also shared preliminary second-quarter results alongside the announcement, expecting revenue growth of $5.3 billion (up 5.7% year-over-year) and adjusted earnings per share above previous expectations. The company reaffirmed its full-year guidance for organic revenue growth between 3-4% and adjusted EPS in a range of $4.80 to $5.00.
Tickers: $GEHC