The company said Friday that Jamie Miller, CEO of GE's transportation unit, will take over the CFO job Nov. 1. She joined GE in 2008.
Bornstein, who has been at GE for 28 years, said he and CEO John Flannery concluded it's the right time to bring in a new CFO with fresh perspective.
Flannery took over from long-time CEO Jeff Immelt in August. Immelt announced earlier this week he would be retiring as chairman three months early, noting Flannery's transition to CEO is going well.
GE also said two of its vice chairs, Beth Comstock and John Rice, will retire Dec. 31.
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