GE announced Jamie Miller, CEO of GE Transportation, has been named chief financial officer of GE effective November 1, 2017. Jeffrey S. Bornstein, GE vice chair and chief financial officer, will leave the company effective December 31, 2017, after 28 years of service.

John Flannery, chairman and CEO of GE, said, “In his more than 28 years at GE, Jeff has been a dedicated and respected member of GE’s leadership team, as well as a coach and mentor to a generation of finance talent. He has been a valuable change agent, most notably in overseeing the highly successful disposition of more than $190 billion of assets at GE Capital as we completed our pivot to a more focused industrial company. He has also been an important partner to me as I’ve transitioned into the CEO role. We are grateful for his service to the company.”

“As John evaluates the strategy for GE and puts his leadership team in place, he and I have concluded that this is the right time to bring in a new CFO with a fresh perspective to guide GE’s ongoing efforts to reduce costs, drive growth, improve our performance and enhance shareholder value. I look forward to working closely with Jamie through the end of the year to ensure a smooth transition.” Bornstein said, “Jamie’s deep experience in finance, digital technology and business operations make her the right person for this role as GE continues to transform into a digital industrial company. We’ve relied on her leadership to manage the business through a tough cycle, and she has consistently delivered for our customers, shareholders and employees.”

Miller joined GE in 2008 as vice president, controller and chief accounting officer after 18 years of experience outside the company at Anthem and as a partner at PricewaterhouseCoopers. Her roles included managing investor relations, controllership, financial planning and analysis, tax and financial systems. Following her role as controller, Miller went on to become GE’s chief information officer where she led the company’s global information technology strategy, services and operations, and delivered transformational technology such as Brilliant Factory. After two and a half years in that role, Miller became the president and CEO of GE Transportation where she combined her financial and digital experience to manage the business through a tough cycle.

In separate news releases, GE announced Vice Chair John Rice and Vice Chair Beth Comstock will retire from GE effective December 31, 2017 after 39 years and 27 years of service, respectively.