GE HealthCare CFO Jay Saccaro to Step Down

GE HealthCare announced that executive VP and chief financial officer (CFO) James “Jay” Saccaro will step down to pursue a role outside the medical technology industry. He will remain with the company through Aug. 14 to support the transition.

Saccaro was hired as GE HealthCare’s finance chief in May 2023. Before that, he served an over two-decade tenure at Baxter, joining in 2002 as manager of strategy for its BioScience business and culminating in the role of executive VP and CFO.

The company named George Newcomb, its controller and chief accounting officer, interim CFO while it conducts a search for a permanent successor.

Newcomb has served as GE HealthCare’s controller since 2016 and became chief accounting officer following the company’s 2023 spinout from General Electric. He previously held several finance leadership roles at GE Capital, including controller of GE Capital Americas and CFO positions at Bank BPH, GE Capital Equipment Finance, and GE Capital Healthcare Financial Services.

GE HealthCare also released preliminary, unaudited second-quarter 2026 results. The company expects revenue to increase 5.7% year over year, with organic revenue growth of 3.5%. It also expects diluted EPS and adjusted EPS to exceed its previous guidance and reaffirmed its full-year 2026 outlook issued April 29.

The company plans to report complete second-quarter financial results on July 29, 2026.

Parting words from GE HealthCare execs

President and CEO Peter Arduini: “On behalf of the Board of Directors and executive team, I would like to thank Jay for his contributions over the past three years. He has played a key role in driving financial discipline and strategic investments aligned to our capital allocation strategy. We wish him success in his next endeavor.”

Departing CFO Jay Saccaro: “It has been a privilege to serve as GE HealthCare’s CFO and lead its outstanding finance organization. I want to thank Peter, the Board, and my colleagues for their partnership over the past three years and I wish the company continued success.”