---
title: "Rivian Stock Slips Friday Following Announcement of CFO Transition Plan"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/297349320.md"
description: "Rivian Automotive (NASDAQ: RIVN) shares fell 6.13% on Friday following the announcement that CFO Claire McDonough will step down on October 30. Derek Mulvey, VP of Finance, has been named interim CFO to ensure a smooth transition while an executive search for a permanent successor is underway. McDonough, who joined in 2021, played a key role in Rivian's IPO and cost-reduction efforts."
datetime: "2026-08-28T15:19:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/297349320.md)
  - [en](https://longbridge.com/en/news/297349320.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/297349320.md)
generator: "portal-rs"
---

# Rivian Stock Slips Friday Following Announcement of CFO Transition Plan

**Rivian Automotive Inc.** (NASDAQ:RIVN) shares are trading lower Friday morning as investors digest an executive leadership transition.

-   Rivian Automotive stock is among today’s weakest performers. Why is RIVN stock falling?

## **CFO Claire McDonough to Step Down In October After Six Years**

Friday morning’s sell-off follows an official announcement that Chief Financial Officer **Claire McDonough** will step down from her role on Oct. 30, to pursue a new opportunity and relocate to the East Coast to be closer to her family. 

McDonough joined Rivian in January 2021 and played a central role in guiding the company through its $13.7 billion initial public offering, structuring capital management frameworks, and driving cost-reduction initiatives. 

She will remain in her position over the next two months to ensure a smooth transition alongside CEO **RJ Scaringe** during the ongoing ramp of Rivian’s R2 platform.

## **Interim Leadership Named As Executive Search Commences**

To maintain operational continuity, Rivian announced that **Derek Mulvey**, Vice President of Finance, is expected to assume the role of Interim Chief Financial Officer upon McDonough’s departure. 

Mulvey joined the EV maker in 2021 from **J.P. Morgan** and has worked directly with Scaringe and McDonough across financial planning, capital allocation, and strategic partnerships. 

The company confirmed that a formal executive search process is currently underway, evaluating both internal and external candidates for a permanent successor.

## RIVN Shares Slide Friday Morning

**RIVN Price Action:** Rivian Automotive shares were down 6.13% at $15.77 at the time of publication on Friday, according to Benzinga Pro data.

*Image: Shutterstock*

### Related Stocks

- [RIVN.US](https://longbridge.com/en/quote/RIVN.US.md)
- [RVNL.US](https://longbridge.com/en/quote/RVNL.US.md)

## Related News & Research

- [What's Going On With Rivian Stock Friday?](https://longbridge.com/en/news/298072321.md)
- [Rivian (RIVN) CFO steps down for GE Vernova amid critical R2 ramp](https://longbridge.com/en/news/297538959.md)
- [Rivian rolls out RivianOS 2, unifying software across R1 and R2](https://longbridge.com/en/news/298058735.md)
- [What's Going On With Rivian Stock Tuesday?](https://longbridge.com/en/news/297663953.md)
- [Rivian vs. Tesla: Which EV Stock Offers Greater Potential? Top Investor Weighs In](https://longbridge.com/en/news/297539607.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**