Microsoft Hires Former GE Exec Carolina Dybeck Happe As COO: Retail Is ‘Extremely Bullish’

Microsoft (MSFT) announced on Thursday it has hired former GE CFO Carolina Dybeck Happe as its executive vice-president and chief operations officer. Happe will be reporting to CEO Satya Nadella.

Nadella said that Happe is recognized for her ability to drive transformational change at scale while delivering improved customer experiences and faster time to value.

"Carolina will partner with the SLT to help us drive continuous business process improvement across all our organizations and accelerate our company-wide AI transformation, increasing value to customers and partners,’ he said in a blog on the firm’s website. Prior to this, Happe was senior vice president and chief financial officer at GE.

Microsoft said the Commerce + Ecosystems organization in Cloud + AI, the Microsoft Digital organization in Experiences + Devices, and the Microsoft Business Operations organization in Finance will move to report to Happe.

Microsoft has been reportedly functioning without an operating chief since 2016, when former Walmart executive Kevin Turner left.

Even as Microsoft announced a high-profile hiring, the firm is reportedly cutting 650 jobs in its Xbox unit as the firm attempts to control costs and integrate its $69 billion acquisition of Activision Blizzard Inc. (ATVI)

Bloomberg cited a memo sent to staff by Xbox chief Phil Spencer on Thursday that indicated the roles to be cut are in “mostly corporate and supporting functions.” “No games, devices or experiences are being canceled and no studios are being closed as part of these adjustments today,” it said according to the report.

Retail sentiment on Stocktwits shifted into the ‘extremely bullish’ territory (79/100) from ‘neutral’ a day ago. The move was accompanied by ‘high’ message volumes.

Microsoft shares have gained over 14% since the beginning of the year. Bullish followers of the stock believe it is showing no signs of a slowdown.

Also See: Gilead Stock Gains After Twice-Yearly Shot Reduced HIV Infections By 96%: Retail Turns 'Extremely Bullish'