GE Vernova Announces Leadership Appointments Ahead of Becoming Standalone Entity

GE Power China

In a significant move towards its upcoming transition into an independent company, GE Vernova has introduced two new prominent leaders to its executive team. These appointments come as a final touch to the company’s leadership lineup, setting the stage for its much-anticipated launch as a standalone entity in early 2024.

One of the notable additions is Kenneth “Ken” Parks, who will take on the pivotal role of Chief Financial Officer (CFO) at GE Vernova, beginning from October 2, 2023. Parks brings a wealth of experience to the table, having served as CFO for various public companies throughout his distinguished career spanning an impressive 38 years. His expertise encompasses diverse financial leadership roles, where he has masterfully navigated through challenges including acquisitions, market expansion, restructuring, and changes in top management. Notably, Parks’ tenure as CFO at Owens Corning, a global player in building materials production, saw the company achieve remarkable financial feats, consistently surpassing projected targets over the last three years.

Parks’ earlier stints include CFO roles at international giants Mylan and Wesco International. His background also features significant contributions at United Technologies Corp (UTC) Fire & Security, where he served as divisional CFO and spearheaded successful transitions during crucial phases. Parks’ extensive finance journey began with Carrier Corporation and York International, and he holds the prestigious title of a Certified Public Accountant. He embarked on his finance career after earning a Bachelor of Science degree in Accounting from the University of Tulsa.

Victor “Vic” Abate, a distinguished figure in the GE Vernova landscape, is set to embark on a broader leadership role. Currently at the helm of the Onshore Wind division, Abate’s sphere of influence will expand immediately to encompass the entire Wind segment, comprising Offshore Wind and LM Wind Power businesses. Abate’s remarkable journey includes a 15-month tenure as CEO of Onshore Wind, during which he skillfully drove operational and financial transformation initiatives. With over 30 years of top-tier leadership experience, Abate is also recognized for his trailblazing work as CEO of Gas Power Systems, where his team famously introduced the record-breaking HA gas turbine product line. He has similarly held the position of CEO for Renewable Energy businesses and currently holds the esteemed role of GE’s Chief Technology Officer.

Beyond his corporate accomplishments, Abate has made substantial contributions to the renewable energy sector. He previously served as President of the Board of Directors for the American Wind Energy Association and played an integral role on the Board of Directors of UI Labs. Abate’s journey to this point encompassed key roles at Allied Signal and Zurn Industries, where he played a pivotal role in mechanical drive technology and innovative product development. Abate holds academic degrees from Rensselaer Polytechnic Institute and Union College, including a master’s degree in mechanical engineering and an M.B.A.

The expansion of GE Vernova leadership team not only underscore GE Vernova’s commitment to achieving operational excellence but also signal its readiness for the impending transition into an independent enterprise. The combined expertise of Ken Parks and Vic Abate is poised to steer the company toward new horizons and achievements, reaffirming GE Vernova’s position as a powerhouse in the evolving energy landscape.