GE Vernova names McDonough next CFO, effective January 1, 2027. Parks retires April 2.

Claire McDonough is named GE Vernova's next CFO, effective January 1, 2027. She is not the CFO today.

Two 8-Ks. Four dates. None of them is today.

McDonough is not CFO today

Kenneth Parks is GE Vernova's Chief Financial Officer. He has not retired. GE Vernova Inc. (NYSE: GEV) said in its August 25, 2026 Form 8-K that Parks has decided to retire on April 2, 2027, the Retirement Date.

Effective January 1, 2027, Claire McDonough will become Chief Financial Officer of GE Vernova, succeeding Parks. She will join the company as strategic advisor to Chief Executive Officer Scott Strazik on November 1, 2026, ahead of that appointment. From January 1, 2027, to the Retirement Date, Parks will serve as strategic advisor to Strazik.

Ms. McDonough, age 45, has served as Chief Financial Officer of Rivian Automotive, Inc., an electric vehicle manufacturer, since January 2021. Prior to Rivian, she served in various roles at J.P. Morgan and Fairway Market. She has served on the board of directors of AutoZone, Inc. since April 2025. GE Vernova's 8-K names Rivian as her current employer. She was not selected as an officer pursuant to any arrangement or understanding, has no family relationship with any GE Vernova director or executive officer, and is not party to any transaction requiring disclosure under Item 404(a) of Regulation S-K.

Rivian does not name GE Vernova

Rivian Automotive, Inc. (Nasdaq: RIVN) said in its August 24, 2026 Form 8-K that on August 24, 2026, McDonough notified Rivian of her decision to resign effective October 30, 2026, the Effective Date, to pursue a new opportunity and relocate to the East Coast to be closer to her family. Her resignation is not the result of any disagreement with the Company on any matters related to its financial reporting, operations, policies or practices. She remains in her current role through the Effective Date to assist with the transition.

Rivian's 8-K and furnished Exhibit 99.1 do not name GE Vernova. They do not name GEV. The destination on those pages is a new opportunity and the East Coast / family.

Rivian has a comprehensive executive search process underway, evaluating both internal and external candidates, to identify its next Chief Financial Officer. Derek Mulvey, Vice President of Finance, is expected to be appointed Interim Chief Financial Officer, effective upon McDonough's departure. He is not already appointed as permanent CFO. Mulvey joined Rivian in 2021 and has worked closely with CEO R.J. Scaringe and McDonough on financial planning, strategic partnerships, capital allocation, and investor relations.

Exhibit 99.1, dated August 27, 2026, is furnished under Item 7.01 and is not deemed filed for Exchange Act Section 18. It prints that under McDonough's leadership Rivian executed a $13.7 billion initial public offering in November 2021. That is Rivian's print on that exhibit.

McDonough, on that exhibit: she is stepping away "for a new opportunity and to be closer to my family on the East Coast." That sentence stays on Rivian's exhibit.

The offer letter is a summary, not a paycheck

In connection with the appointment, GE Vernova entered into an offer letter dated August 25, 2026. The 8-K summarizes it. Those figures are not paid amounts on this filing.

The Offer Letter provides for base salary of $1,000,000 ($1 million), a target Annual Incentive Plan opportunity of 100% of base salary, prorated for 2026, and a 2024 Long-Term Incentive Plan equity award with a target grant value of $5,225,000 ($5.225 million), expected in 2027.

It also provides make-whole awards for compensation forfeited on leaving her current employer: a one-time LTIP award valued at $14,500,000 ($14.5 million), 50% RSUs and 50% PSUs, with RSUs vesting over three years (33%, 33%, and 34%) and PSUs vesting after three years, both accelerating on a termination without Cause as defined in the Offer Letter; and a $5,000,000 ($5 million) cash sign-on payment, repayable in full if she resigns within 12 months or engages in conduct constituting Cause. The $14,500,000 and the $5,000,000 are offer-letter terms. They have not been paid on this 8-K.

In connection with Parks' retirement, GE Vernova and Parks entered into a Resignation Agreement dated August 25, 2026. It provides for continued salary and benefits through the Retirement Date, eligibility for a 2026 annual incentive bonus and a prorated 2027 bonus at target performance, payable within 60 days after the Retirement Date, and forfeiture of unvested equity awards as of the Retirement Date.

Those summaries are qualified in their entirety by the full text of the agreements, which will be filed as exhibits to GE Vernova's Form 10-Q for the quarter ending September 30, 2026.

GE Vernova's 8-K is signed August 27, 2026, by Richmond Glasgow, Vice President, Chief Corporate Counsel. Rivian's 8-K is signed August 27, 2026, by Michael J. Callahan, Chief Administrative Officer and Secretary.