Rivian Automotive Inc. (NASDAQ:RIVN) Chief Financial Officer Claire McDonough has departed from her role at the EV giant, having joined the company in January 2021, according to an official statement by Rivian on Thursday. The company’s shares slipped 1.07% during after-hours trading.
VP of Finance To Be Named Interim CFO
Rivian, in the statement, said that McDonough will “remain in her role as CFO over the next two months to ensure a seamless and thorough transition.” The automaker is “expected” to appoint Derek Mulvey, who is the Vice President of Finance at Rivian, as the Interim Chief Financial Officer, once McDonough departs.
“Rivian has a comprehensive executive search process underway, evaluating both internal and external candidates, to identify the company’s next Chief Financial Officer,” the company said. McDonough oversaw Rivian’s 2021 IPO, helping the company execute its $13.7 billion initial public offering.
“She’s had a meaningful impact on our business and our teams during a transformative period of growth,” Rivian CEO RJ Scaringe said in the statement, while McDonough hailed her time at the automaker as the “highlight” of her career. She also said that the move comes as she wants to be closer to her family.
McDonough will join energy company GE Vernova Inc. (NYSE:GEV) in November this year as the CFO, “before transitioning fully into the CFO position on January 1, 2027,” according to an official statement by the company.
Rivian’s Shareholder Movement, Gary Black’s Apple Comparison
During the second quarter of 2026, institutional investors added more than 70 million shares of the EV maker to their portfolios. According to SEC filings, 417 holders raised their stake in the EV maker by a combined 106,424,812 shares, while 318 investors cut their positions in Rivian by 31,005,657 shares.
Companies like Uber Technologies Inc. (NYSE:UBER), which had earlier touted a $1.25 billion Robotaxi partnership with Rivian, as well as Amazon.com Inc. (NASDAQ:AMZN), remained key investors in the company. Meanwhile, investor Gary Black of The Future Fund LLC hailed Rivian’s R2 crossover SUV’s launch, comparing it with Apple Inc.‘s (NASDAQ:AAPL) expansion from computers to cell phones.
Price Action: Since the announcement of McDonough’s departure as the CFO, Rivian shares declined 1.07% during overnight trading on Thursday to $16.62.
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