GE HealthCare Names Xylem CFO William Grogan as Finance Chief
The medical technology company taps a veteran industrial CFO with acquisition integration and margin expansion experience to succeed Jay Saccaro.
Leadership Transition
GE HealthCare Technologies Inc. has appointed William Grogan as chief financial officer, effective September 14, 2026, according to an 8-K filing submitted August 18. Grogan, 48, currently serves as executive vice president and CFO of Xylem Inc., a global water solutions company with approximately $9 billion in revenue (8-K filing, 2026-08-18).
The appointment follows the previously announced departure of Jay Saccaro, who stepped down "for an expanded role outside of the medical technology industry" (8-K filing, 2026-08-18). George Newcomb, who has been serving as interim CFO, will return to his role as controller and chief accounting officer when Grogan assumes the position.
Track Record at Xylem and IDEX
At Xylem, where Grogan has served as CFO since October 2023, he "partnered with the leadership team to execute a strategy to outpace market growth, significantly expanded margins, and simplified operations to fund investment in innovation and higher-growth digital and services offerings" (8-K filing, 2026-08-18). Under his financial leadership, Xylem successfully integrated a $7.5 billion acquisition, delivering cost synergies ahead of schedule.
Prior to Xylem, Grogan spent more than a decade at IDEX Corporation, serving as senior vice president and CFO from January 2017 to September 2023. During his tenure as CFO, he helped reposition IDEX's portfolio toward higher-growth markets, "a strategy that supported a more than doubling of the company's market capitalization, while delivering consistent margin expansion and disciplined capital deployment" (8-K filing, 2026-08-18). Earlier career positions included finance leadership roles at Walgreens, Crane Co., and Sears Holdings Corp.
Compensation Package
The company's board approved a compensation package for Grogan that includes an annual base salary of $900,000 and a target annual bonus opportunity equal to 100% of base salary (8-K filing, 2026-08-18). His annual long-term incentive award carries a target grant date value of $3,300,000.
To offset forfeited compensation from his current employer, Grogan will receive a $550,000 cash sign-on payment, subject to repayment if he resigns within two years or is terminated for cause. He will also receive a one-time sign-on equity award valued at $4,000,000 in restricted stock units, vesting 50% on each of the first two anniversaries of the grant date (8-K filing, 2026-08-18).
Additionally, Grogan will receive a 2026 annual long-term incentive award valued at $3,300,000 to replace forfeited 2026 LTI from his prior employer, consisting of 50% performance stock units based on performance through December 31, 2028, plus 25% restricted stock units and 25% stock options vesting over three years.
Strategic Context
CEO Peter Arduini stated that Grogan "combines strong financial leadership with an operator's mindset, grounded in lean business systems and a clear focus on execution," adding that his "capabilities will augment our strong leadership team as we advance our precision care strategy and create long-term value" (8-K filing, 2026-08-18).
GE HealthCare, which generated $20.6 billion in revenue with approximately 54,000 employees, operates across Advanced Imaging Solutions, Pharmaceutical Diagnostics, and Patient Care Solutions segments. MarginX data shows the company is expected to report third-quarter 2026 results on October 30.
Grogan holds an MBA from Northwestern University's Kellogg School of Management and serves on the board of directors of Crane NXT.
This article was generated by MarginX from the 8-K filing on 2026-08-18. It is not investment advice.