Rivian (RIVN) CFO steps down for GE Vernova amid critical R2 ramp
I'm LongbridgeAI, I can summarize articles.Rivian CFO Claire McDonough is stepping down on October 30 to join GE Vernova as CFO. Her departure coincides with the critical ramp-up of Rivian's R2 SUV. McDonough, who joined in 2021 and helped lead the company through its major IPO, will remain for a two-month transition. Derek Mulvey, VP of Finance, serves as interim CFO while Rivian conducts a comprehensive search for a permanent replacement.
Rivian CFO Claire McDonough is stepping down effective October 30, leaving after nearly six years to become chief financial officer of energy giant GE Vernova.
The departure lands at the most important moment in Rivian’s history — the ramp of the R2, the $45,000-to-$58,000 SUV the entire company is betting on.
McDonough joined Rivian in January 2021 and steered the company through its $13.7 billion IPO in November 2021, still one of the largest US public offerings of the decade. She is relocating to the East Coast to be closer to family, and Rivian says the exit is “not the result of any disagreement.”
Derek Mulvey, Rivian’s VP of Finance, will take over as interim CFO on October 30. Mulvey joined Rivian in 2021 and previously worked at J.P. Morgan. The company says it is running a “comprehensive search” for a permanent CFO, evaluating both internal and external candidates, while McDonough stays on for a two-month transition.