July 23 (Reuters) – GE HealthCare’s Chief Financial Officer Jay Saccaro will step down from his role to pursue an opportunity outside the medical technology industry, the company said on Thursday, and also reported preliminary second-quarter results.
The medical device maker named its current controller and chief accounting officer George Newcomb as interim CFO while it looks for a permanent replacement. Saccaro will remain with the company through August 14 to help with the handover.
Finance leadership reshuffles are taking place across the broader healthcare industry. Pfizer named an interim finance chief in June after Dave Denton announced his departure, and Baxter International appointed an interim CFO in March following Joel Grade’s exit.
GE HealthCare said it expects second-quarter revenue to increase 5.7% from a year earlier, or 3.5% on an organic basis, while it reaffirmed its full-year forecast.
Quarterly diluted and adjusted earnings are expected to come in higher than a year ago and above what the company had forecast earlier, GE HealthCare said.
The Chicago-based firm previously lowered its full-year profit forecast when it reported first-quarter results, citing persistent inflation in memory-chip, oil and freight costs as well as tariff-related pressures stemming from the Middle East conflict.
Newcomb brings more than three decades of finance experience to the interim role, the company said. He has been its controller since 2016 and took on the chief accounting officer position when the firm spun off from General Electric in 2023.
(Reporting by Padmanabhan Ananthan in Bengaluru; Editing by Pooja Desai)
Comments