The CFO Behind General Electric’s Historic Transformation with Carolina Dybeck Happe

[Music] Financial leadership is changing CFOs no longer record history they make history this podcast will help you become a better leader strategic thinker and digital Visionary welcome to secrets of Rockstar CFOs the ultimate podcast for chief financial officers follow along as Jack Mulla engages an exciting chat with accomplished CFOs learning how they overcame obstacles and positioned their companies for the future here's your host Jack Mulla hello everyone and welcome to the secrets of Rockstar CFOs I'm your host Jack McCulla by day I'm the president and founder of the CFO Leadership Council today we have a fantastic guest so let's rock today's guest is a true Visionary on Global Financial transformation karolina dabeck haa she is with General Electric and Carolina Welcome to the secrets of Rockstar CFOs Jack thank you thanks for having me oh I've been been looking forward to it for a while and before we get into the the CFO stuff I want to chat a little about your early background um because you're our first guest who grew up in Sweden and I'd love to know a little bit about growing up in Sweden and how that led to being you made you the CFO of an American iconic company Well Jack if you grew up in Sweden what you realize pretty early on is that Sweden is a small country and not many people speak Swedish um so if you want to grow H you quickly land abroad and if you land abroad uh you do need to speak other languages so I would say for me from sort of early adulthood I've um always had a very Global Experience and and appreciation for for different countries and and cultures and I think that's what led me to uh to get my first CFO role in Germany uh in my late uh 20s yeah that's interesting so you speak how many languages four Swedish polish German and uh English it just stumbl on English there yeah it's my fourth language so bear with me well it's funny because it's you know it's accented but it's Flawless well four is not that impressive it's only three more than I speak so uh so good for you for speaking four anyway so your your first job was in Germany though that's interesting I would say so my my first c role uh was in Germany and I was uh 29 when I got that role and I would say what's interesting is that I actually got the the spec for that role once I already was in the role and the spec said what we need for this is a a German someone with 15 years of experience and a profound understanding of the industry I was Swedish I was 29 uh and I came from the tech industry so so clearly they must have changed uh their mind sort of through that process but they did believe in me and they gave me the change and the chance here to to do this and um it was a fantastic period in my life I learned and enormously I learned what it really meant to be in a manufacturing environment it was my first industrial job right and um I saw sort of manufacturing I saw R&D I saw commercial I saw what worked and what didn't work uh and I also got my first experience in how to build and to lead H A Team kudos to the management team for being a little bit more open-minded in recognizing you know the talent you bring rather than that you check a series of lists but that is impressive that you went 0 for three on the big three and and yet still ended up with the position and I can't imagine that there are many 29 year old CFOs in Germany is that fair to say that you had a very high level of responsibility at a young age I would say that that is uh true and the reality was that there was a lot of transformation needed because this was a group of companies that had been bought by Assa and there was a need to integrate and transform the companies going forward so um I think that's really what what made them pick me yeah that no that that's fantastic and you're certainly you know and aside from just speaking four languages and um you're one of the most Global CFOs in the world um how many countries have you lived and worked in oh time time flies I have worked and lived in uh seven countries um and I I mean there were also different industries that I worked worked across and you know time time flies I I thought about that over the weekend that I've been a large cap CFO for 13 years but as CFOs we usually count that in earnings so it's about 50 earnings three different companies seven geographies and the different Industries earnings well that's a that's a great way to put it though and uh what countries have you worked in over the years uh so I started in in Sweden uh I have to think here and then I was actually in the US uh Switzerland Russia Germany UK and then back to the US wow because yeah I um I believe I stumbled across the fact when the first time you were in the US you were in Santa Barbara and yes and you went from Santa braber to Russia uh yeah you do know it you're supposed to kind of go the other direction right you go from the cold weather cities to the warm weather ones but you went from Paradise almost to to a relatively cold part of the world so it must have been a wonderful opportunity for you yeah absolutely I think it's more about for me it's always been sort of been driven about what's my mission how do I fit into um a company and what is really the transformation needed and being part of uh driving that transformation and I think with you think about it sort of from a company perspective I started uh in different roles and grew through Assa and then by MK and then I came to GE and it was sort of a I would say as I I grew through that it was really about scaling up uh and getting into more complex and Global environments and that really built the tools uh that I now have in place um and then sort of when G came up it was all about uh sort of doing the same thing but but faster and on a larger scale but it was also about value creation and and um I'm really proud of what we created in my previous roles when it comes from you look at sort of Asa ablo and where we were sort of this traditional Industrial company um and me going from Tech to Industrial you talked about you know from from Russia to the US or doing it the opposite way it was the same with my career I started in Tech and then I went to Industrials most people did the opposite they started in Industrials and moved to Tech um but for me it was really about seeing the opportunities and and where the value creation would be and for example with us I saw this opportunity of this traditional Industrial company and how you can really move that uh to a sort of tech enabled giant with a lot of value creation along along the way that that's fascinating so it's amazing how you've had all these roles and they each one you took something learned something and that sort of each one of them in the aggregate prepared you for the role at at GE which is you know I I Believe by far the biggest company you've worked at is that fair to say that is fair yeah so and you know so I I want to chat about GE because you're um it's interesting I believe and do correct me if I'm wrong but I believe you're the first Outsider who is hired to be a CFO of GE is that correct yes yeah and are you also the first non-american to have been in the uh the global CFO seat as well I believe so so so I'm curious and you know I I consider GE you know truly iconic when I think of the GE logo you know it's as well recognized you know it's what Disney maybe Apple computer and one or two more but it's certainly you know to me you know particularly growing up in the Boston area one of the most iconic companies in the world so what was that like for you to come in as the the first Outsider so to speak in the CFO world and and also not being an American was that created some great challenges and opportunities I suppose right well I I would say my with my background have having lived and worked in different companies and countries um I think for me that part was was uh worked really well um I think if you look at what the situation we were in with G clearly uh there was a big transformation needed and a big turnaround needed and um I know that Larry and the board when they were looking at at sort of who can be that change agent um and then wanting to combine that with the CFO that was both strategic and operational and why I say this is that many Sil are are either are typically either strategic or operational um and I think with my background that that I have both was was important for them I also believe that my strong background in decentralization and lean uh s of for me critical guiding principles for transformation was also something that the company was um very much um looking forward and then I I would say the strong Capital allocation um sort of coming with a strong Capital allocation track record was also important considering uh the situation with the portfolio and and assessing uh what to do where and uh if you take all of that together sort of the Strategic and operational the decentralization and lean the strong Capital allocation um Larry and I have a very uh common background in this area so I do believe that that was critical U for the job but also our partnership in this massive transformation yeah it's interesting because I was actually going to ask you about your relationship with Larry and there was a study by Accenture a few years ago and it determined the most important relationship at the seite level was that between the CFO and the CEO and so I'm curious uh you know what is that relationship you know you're going through together leading you know what perhaps is the greatest business transformation in corporate history so i' I'd love to know a little about that dynamic between the two of you if I may yeah sure and I I think it um it it's different for different uh people but for me uh and for Larry I would say the CEO and the CFO are true partners and together you're being strong you build strong teams and alliances and um I think for me and Larry having that same background um was was really important and really helpful considering the size and and the speed needed to drive the G transformation and if you think about it you take one example I talked about this with the decentralization so we both had to pretty fast figure out what are the centers of gravity within G and what I mean by that is what are the business units and what does that mean from a p&l perspective so sort of how do you decide from this enormous company that had five segments and five pnls how do you set the businesses up for success how do you decide what are the right levels of of pnls and um well we we traveled around together quite a lot in the beginning to to figure out what the right setup would be and we decided it was going from those five pnls to 30 pnls or business units I call them pnls as a CF because having a full p&l in cash is so so important uh when you're managing a business um so that was a big uh sort of a big decision for us interesting so you were brought in I mean you're definitely not a conventional CFO you know everything about you is all about business transformation Financial transformation you're a bit of a a groundbreaker I think and it's fair to say that so how has that served you at GE which is going through you know the only thing I can even come at that's kind of close is back when at& was broken up in the 90s I guess and you know relatively it's probably comparable but how has all that served you in sort of assessing things and and you know making the decision to to do you know the biggest transformation ever I would say the my my background and having done operational CFO roles in a sort of smaller but highly complex scale and having many years of expertise uh within roles that have grown and in a sort of both operational and strategic way I think that has helped me uh enormously and and you know we talk about Capital allocation because over time that is sort of truly how how you win we make the right bets there um having done over I think it's almost 200 Acquisitions in my previous roads at ASA and successful integration of those over time that has also helped me enormously in in uh understanding what works and what doesn't work um and I do think this about being a a change agent sort of staying agile being able to adapt any situation if it's a country um or if it's an industry but also if it's a different team um that is skill set that serve me really well and you really have to partner with everyone from sort of the the people uh on the manufacturing floor to to the board um and together sort of Drive uh value creation and where does it really come from well from the way I look at it is sort of you have a company and really what drives the company's Innovation a successful Innovation and you look at that Innovation that is what's going to give you growth and you add to that operational discipline on the cost side but that Innovation driving growth and creating and generating enormous value for a company gives you the opportunity to invest money in the future and you sort of have a flywheel of value creation um and that's been that's been key for me it's remarkable because the CFO really in the modern world is a value Creator it is um you know the the sort of the the vision of the CFO being behind the scenes reporting what happened after it happened you know that's a bugo error at this point it's a value you know it's definitely a value creation type of role and you seem to exemplify that in in a lot of ways so but I I want to just make sure I heard something correctly did you say you did 200 Acquisitions at one company yes I would say it was over 16 years but that's still a lot yeah I mean 16 years is what 192 months so you were basically doing an acquisition a month for 16 years is that about right more or less yeah yes it is and I did it that you have to think about it as in different in different sort of perspective once in the company sort of negotiating yourself with the the potential Acquisitions then from a segment point of view sort of running the terms that run the acquisition and then from a corporate perspective uh the governance and basically the the approvals uh on different tollgates um before you you agree to an acquisition but it does give you a lot of experience in in how important it is to really start with a strategic fit decide are you the best owner so what are the operational sort of improvements you can make what are your synergies then finding a I would say deal math that works um so that it's a win-win and then just as importantly is how do you integrate the company in to your existing company because that's where the value creation really happens um and and you sort of you learn be very disciplined and you put up a capital uh allocation framework uh that you stick to uh which is so so important over time and we did right yeah a friend of mine who's done a lot of acquisition he said okay now we've done we've acquired the company now the real work starts and you know the point being that the integration is sometimes more actually more difficult than the deal itself so but uh but that's crazy so I I want to come back to you this your start at uh ge and it you had the interesting experience you started GE right at the beginning of covid right so yeah yeah so welcome to the United States now stay in um but that was challenging timing and just in terms of like you know learning about the business and forming the alliances that it's critical for any seite member to form all of a sudden that's a lot more difficult how did you manage that situation yeah well I'll tell you jack so my first days um that was a lot on on Microsoft teams but it was a lot about understanding and getting to know the business uh but I'll tell you after 100 this um I I talked to my husband and my children and and said okay we're going to move even with covid everybody's going to move um and we did so all of us we moved across the ocean during Co yeah summer 2020 um but that was the only way to really get close to where they was and get closer to the people because I do strongly believe that empowering teams as well as keeping them accountable is uh how you're most successful um and I think this this was so important for me so getting close to the people and being able to build that one-on-one relationship was was so so important because that's also how you create an alliance but you also create people that you can leverage and can then drive the message uh into the business and then really have that high high impact and for me having sort of the right people in the right place and making sure that they were empowered with the right tools so they could take those decisions and have the right impact was was so so important and that's why it was also important um for me to have the businesses be supported by Finance out in the businesses so it was pretty big transformation for G to move sort of from a more centralized Finance team to have Finance much more embedded in the businesses with operating teams so that they could problem solve together and what I talked about in the beginning how went from 5 to 30 pnls that also meant that we needed to recruit well 30 CEOs but well 25 CEOs but also 25 CFOs for the businesses some were of course internally promoted but it was putting those team in teams in place uh to be able to drive performance where it matters so close to the customer close to the Innovation but that also made people's jobs more fun and I said to them um similar to what you said in the beginning you know it's going to be about making the news not about reporting the news in Finas that's F you know it's funny I often use the quote uh CFOs no longer report history they make history so now I feel like you validated that my my quote is actually a legitimate thing to say that coming from no one less than you that that's fantastic but uh but you know you're right you mentioned being finances embedded in the business and there sort of has been the trans information that you know Finance was you know maybe a necessary evil or maybe they you know were there to you know to stop things from happening but with that sort of mindset embed them in the overall business then they become a strategic asset I imagine right very much so and and you there to support where where the action is and and you can really help Drive the performance so I think what was important for those than 30 teams uh with the cosos and the CFOs was that they would have those right tools so they can really drive the impact and they can also measure and see if the actions they are taking are creating the impact they want it uh and if not they can pivot um so so it's just a much more sort of leaner closer to the customer action oriented uh solution which also is so so important because you know there's competition out there so you you have to take the right decisions with speed that's really how we win oh yeah yeah the right decision slow is not the right decision what is what It Gos down to so cool but I I want to chat with you a little bit about it's GE of course is going through the transformation and it's being divided into three parts can you give like a little overview of each of the three parts of the new GE or the three new companies yes of course yes so um what we're gonna have is GE Healthcare GE Aerospace and GE vova so we'll have three independent investment grade public compan compies uh they all three leaders in their different Industries um and if you just look at the the size uh and the scale of the businesses I think it's it's stunning if you look at Health Care two billion procedures per year are done with G technology yeah yeah and if you look at G Aeros spells yeah three out of four commercial flights globally have GE engines and then G iova which is U the name of our um energy businesses we talk about the energy transition a third of electricity that is generated in the world is generated with with the GE technology so enormous impact in enormously important industries yesterday today and and tomorrow um so incredibly exciting times for for all the businesses oh yeah it's going to it's it's GE itself is so big that it's cut into of three ways and each of the three companies is still gigantic and individually significant on the global economy so and again getting back to you know GE one of those companies you know we all grew up with right I mean everybody in the world is a customer of GE it seems like right even if it's just the light bulbs or whatever but what makes this point in history the time to divide into three different companies Well Jack I I think you almost have to take a a step back to sort of set set the stage uh of where we were because that brings us to uh the rationale of splitting into three companies um and I would say when I joined the the end game wasn't clear but what I did know was what what my mission was so my mission was fix the balance sheet fix financial performance and operating performance and find a solution for maximizing value um so sort of when I joined G the the opening balance or my opening balance with the balance sheet was we had $140 billion of debt uh with near-term maturities we also needed about 20 billion in cash to run the businesses which were much more than what we were generating oh and by the way speaking of cash generation I talked about how I joined and Co hit well covid really eliminated the demand for our best business which was Aerospace Services because that's based on how much you fly uh and just to give you perspective that that was more than 100% uh of the company's free cash flow that was generated there so with that as the a backdrop the question was what do we do you had immediate con immediate concerns you had the midterm challenges and you had the longer term goals so we had to start with immediate concerns start working on the midterm challenges and also keeping in mind the long-term goals uh and they had to develop as we improved on the financial performance as we improved on the balance sheet and then how we really uh could find what would be the maximum value for for the businesses um and I would say the it really started with sort of what were the customers needs other stakeholders like shareholders employees even suppliers and figuring out what would be the optimal um solution and as we improve the balance sheet we took out more than a hundred billion dollars of debt we improved the financial performance more than doubled earnings and and um generated much more free cash that gave us the opportunity to land in three separate global leaders investment grade and public companies with healthc care energy and Aerospace um and it's it's as you said it's got It's already created significant shareholder value and of course we have potential to do much more yeah absolutely it seems like the world has definitely embraced this change that you're leading fair to say yes which is truly truly exciting to see as well and there's more to come oh cool well we we look forward to that so but in your current neural you're focusing largely I would assume perhaps even exclusively on you know preparing these three companies to be solid Standalone publicly traded type of companies so um do you find it is is that your exclusive role or you doing some traditional Financial leadership roles above and beyond that and and how do you balance all of that so so I'm focused on um the transformation and the separation into three companies the first one G Healthcare we already did early this year and then we have the second one which is going to separate energy from from Aerospace early next year practically meaning April then and if you look at at where we are I would say like this our biggest challenges are clearly behind us I talked about fixing the balance sheet improving the financial performance as well as setting up the Strategic direction for the company as we separate into three uh businesses so with that there still is a lot of work technically to separate the businesses uh going forward and we set up like a huge um pmo really at the beginning of this process with with two of my teams uh leading it and probably 80% of the work that needs to be done um for the spins is done by Corporate Finance um and it so I'm working with the teams to deliver uh on that and and if you take that in perspective we're talking about thousands of legal entities across the globe we have about 130,000 people moving entities and we're also separating all the assets and liabilities in Dent to the different balance sheets oh by the way we also have more than 200 erps that we're separating wow not to mention the other applications so still a lot of work on the technical separation then it's crazy it's funny that the former accountant in me I guess you never outgrow it but when you're talking all that I'm thinking what what are the accounting and legal fees involved in that to to do this kind of thing so but cool but it's interesting because I don't believe that there's any precedent for a deal like this so it's not like you can follow you can read a blue blueprint or follow a path forged by others I think I mixed my metaphors there but hopefully made the point but so what's the experience been like it's not like you can call somebody and say what did you do when you were fac that with this nobody's done this right so what's that been like learning as you go and you know sort of creating a history and do you think yeah I would say that I think the experience for me having had the experience of sort of scaling with complexity and Global and also having done a spin uh with Aon in Germany when I was on the board this is at an even bigger scale but once you have done it you sort of know what the drivers are you just do it at the larger scale um and we also have a really strong team that is delivering on this in corporate finance and I think that's another really important part like you talked about FS to to others but for us a lot of this has been done in-house with the corporate finance team uh and with G's history and all the transactions we have a highly skilled team that is that is focused on this and why I say that is because it's also important that not the whole company focuses on the spin because then you can come in what what some people call spin limbo so for us it's been really important to separate and say 95% of the company is focused on B so business as usual serving the customers delivering Innovation and doing it in an effective way so and 5% really uh is focused on on uh the Spain but out of those 5% the biggest part of that is Corporate Finance and and corporate DT and it's been key to keep it like that so that you have the right people focusing on the right tasks so that you can continue to deliver uh in the businesses while at the same time executing on probably the largest transformation in Corporate America yeah it's it's um by the way baau somehow I live to be uh as old as I am and i' I had never heard that phrase before so I'm going to be lifting that from you so thank you for that so but you know I I think the company is well prepared because historically you know GE has been known for many many things one of which is GE Finance right I mean you'd put GE Finance is good is in better than any company in the world when you look at other companies sort of the GE CFOs GE Finance alums or CFOs at so many other companies I'd put the G alumni database against you know any grad school whorton Harvard Chicago Stanford MIT Sloan I mean you have at your fingertips some of the best financial professionals on the planet so I'm sure that helped absolutely and that's why we could do a lot of this uh inhouse as well in delivering what I remember a a team member in G Healthcare said to me and he meant this with love he said you know this is a bit like brain surgery for finance so I like that expression oh boy yeah that's probably actually a pretty good analogy so one of the things you shared with me Carolina is when you talk to people and you share the fact that you work at GE and they don't necessarily know that you're the CFO of GE they only know you work there but it's even people who don't work for the company they're thrilled to see the success that you're experiencing and and a lot of your colleagues just feel really terrific that ge's back on top of the world so to speak what that what must that be like for you on you know a personal level I would say that's been one of the best parts for me um so when I joined G uh and met people we were in a very different situation but already then I can tell you that everybody um was rooting for us and everybody also had a personal story about ge when I said I worked for GE they would then say oh well so did my dad or or my sister or I grew up next to a g Factory or I used the products so everybody has a relationship to G and it's been clear that everybody wants us to win and they were rooting for us already then and now when I meet people and we're in a very different situation and we are winning um people are so happy for us and of course people internally uh are thrilled to be in this this situation because who doesn't want to be part of a winning team and now they are again yeah it's such an important company and like those people you've met you know I had an uncle that worked you know I think he graduated high school at 17 or 18 and retired at 65 I don't think he worked anywhere but GE during his entire career I mean it it and there are so many stories like that right of careers and you know just just lives affected by the company so I'm sure there's a great sense of Pride that it is you know back to its former glorious position but so but I do want to get back to your own uh background because by reputation you're somewhat of a digital Visionary and it's not the coding but you have sort of figured out how to use technology as a competitive Advantage so how do you see technology impacting Financial leadership in the years ahead and ji is probably the big thing we can talk about that or just other other trends that you're seeing as well yeah yeah I think I think so starting out in the tech World in my earlier years was sort of very formative and and made me uh a digital believer for life and I continue to to believe that and if you look at Assa we move the company from sort of a traditional Industrial company with Mechanical Solutions to electromechanical solutions to digital and SAS solutions that was an enormous uh transformation of a company a different type of transformation but still a transformation and for me being responsible then for for it and driving the digital part of that was incredibly fun and and rewarding and uh so I've stayed I've stayed a Believer um and you asked about Ai and what that can do I I think what I see with my background in sort of driving lean and digitization I almost compare it to sort of the what the Industrial Revolution did for the manufacturing jobs so we all sort of know from history if we look at uh what happened how the work we did on the manufacturing floor how that was impacted um through technology and how it massively improved safety quality delivery and cost um and made the jobs more fun and I believe the same thing will be true with AI for for office workers we will improve the quality the delivery and the cost um and and what I see is that how we do things change dramatically but it also means that the jobs we will have will be much more more fun uh and much more about sort of writing um versus report Ting interesting so uh so we're experiencing the equivalent of the indust Industrial Revolution for office workers so I'm going to steal that from you as well boy I'm just such a thief uh cool but I I wanted to chat with you and in particular because more than almost anyone you you have a a true global vision and an understanding of the global world and how it affects business so I I I think we're getting used to maybe living in chaotic times you know see and other Executives but never more so in 2023 so do you have any advice for other Financial leaders or just business people in general of how you can prepare for for living and working in a global economy that seems to always be chaotic it just it doesn't seem like it'll ever you know be 20 years of normaly like we had for a while yeah well well you're right there is it really isn't a short of of global issues or issues that impact our businesses and it can be hard to focus on the dayto day um and making progress on the long term but I would say if you look at G we we had all of that internally so we had to F it all and we did the short term and the long term in in parallel and I I do think it's about making sure that you focus on what's critical and that you decide or make sure you know what you have to deliver and that you follow up on that and make sure that you pivot as you go because that is what happens when you have a load of change you sort of have a plan you work with that but then you also pivot um as things as things develop and this about staying agile and open to change and working an environment like that I do think that that is um that is critical but I also think that it's even more important now um that you feel that your company has a purpose and that you feel that you know makes you proud and makes you um happy about working there and also makes you want to go that extra mile um and I feel that with where we are at G what I talked to you about you know with the health care and the flight and the energy transition it certainly is there and it it also makes me feel sort of connected to a the global economy in a almost unique way yeah it's interesting I think one thing Co that shifted people that you know where we work isn't just where we work people you know obviously the paychecks a Paramount thing but people want to feel connected like somehow they're working for a company that's making a positive impact on the overall Globe it's it's a very positive change so and you're you're fortunate to work in an organization like that so yeah so I have one final question in hard-hitting journalism I hate to go here uh but you may know I have 30,000 LinkedIn connections including you you have by far the best LinkedIn photo of any of my 30,000 connections uh it's you're wearing uh a fighter pilot outfit uh I'd love to know if there was a story behind that yeah it's certainly what there certainly is a story behind that so and it actually starts around the corner here in Boston because I was up in uh Lynn uh our Factory where we have the Aerospace defense team and we were there for an operating review and we were going through the business and we were also going through the manufacturing uh and as I was passing the different cells I saw one of the cells with a Swedish flag on it and the team told me then that this is where we are manufacturing the engines for y grian so the Swedish fight and um when I heard that after that I talked to Tony our team leader there and uh that I connected with with the tat s and one thing led to another and when I was in Sweden over the um holidays later that year I actually got to go to Lan shopping and have a full day experience including flying um s Gripen and and it was it was amazing I'll tell you that you're at 30,000 feet you have G forces of up to seven and you're flying at supersonic speed so it was truly amazing and I I even got to steer through through a loop oh really that was a yeah it was a fantastic experience but but really the whole experience from the morning everything sort of from you know the fitting uh the try also running different tests it was um it was so so good to see the team and the passion of the team uh but then of course also taking taking the flight yeah I think I would have passed on the flight I would have chickened out so I I give you congratulations for that but that is so cool and it wouldn't have happened had you not noticed the Swedish flag right it sounds like no so yeah wow that that's fantastic so have your eyes ands out anyway Carolina this has been a fantastic conversation I'm sure our listeners learned a lot from you so I I want to thank you uh for for being a guest on the secrets of Rockstar CFOs and if you have any final words would love to hear them well Jack thanks so much for for having me I uh I just wanted to say that it's been a a true blessing to be part of the G transformation in such an iconic company um and I'm so happy that we have come as far as we have and and I'm sure that this is just the beginning of the three companies U for the next 130 years so thank you for having me for to we'll get together at the 130th year so I'll be almost 200 then but that's cool thanks Carolina thank [Music] you thank you for listening to this episode to continue your exploration of this role that focuses on strategy leadership finance and Technology listen to more episodes of the show at Rockstar cfo.com join this Revolution episode by episode push yourself to achieve great things and unlock the best opportunities Available to You CFOs are creating a legacy and it's time for you to leave your own unique imprint on the world today that's all for now see you on the next [Music] one