Carolina Dybeck Happe (born July 1972) is a Swedish business executive serving as the chief operations officer (COO) of Microsoft since September 2024.

Previously, Dybeck Happe held the roles of SVP and chief financial officer (CFO) of General Electric from 2020 to 2024. She was the first outsider and non-American to be appointed CFO of the company, a job that has been described as one of the toughest CFO jobs in corporate America.

Prior to joining GE, she was the CFO of several global corporations including A.P. Møller – Mærsk and ASSA ABLOY.

Dybeck Happe was born and raised in Stockholm, Sweden, the daughter of Sten Dybeck a Swedish businessman and entrepreneur. She holds a Master of Science in Business and Economics from Uppsala University in Sweden.

Dybeck Happe began her career at EF Education First (an international education company) in 1996 where she pursued an international career holding various positions in Russia, Switzerland and USA. In 2002 she joined lock-maker ASSA ABLOY as a regional CFO based in Berlin, Germany. In 2007 she became the EMEA CFO based in London, United Kingdom. After a stint as the group CFO of Trelleborg (a Swedish-based global engineering group) in 2011 she rejoined ASSA ABLOY in 2012 as group CFO and executive vice president based in Stockholm.

In 2019 Dybeck Happe was appointed group CFO, executive vice president, of A.P. Møller – Mærsk A/S (the largest shipping company in the world) based in Copenhagen, Denmark.

In November 2019 it was announced that Dybeck Happe would join General Electric as the group CFO and executive vice president, a role she assumed in March 2020.

In November 2021, General Electric announced its plan to split into three separate public companies focused on the growth sectors of aviation, healthcare, and energy. Dybeck Happe played an important part in the three-way split, including shrinking the company’s debt levels, managing the complexities of the spinoff transactions, and  defining the new entities’ capital and tax structures.