Key facts
- Rivian's Chief Financial Officer Claire McDonough is departing the company at the end of October.
- McDonough joined Rivian in early 2021 and was instrumental in its IPO.
- Her exit coincides with the rollout of Rivian's more affordable R2 SUVs.
- Derek Mulvey, Rivian's vice president of finance, will serve as interim CFO.
- Rivian stated McDonough's departure is not the result of any disagreement.
Rivian's Chief Financial Officer Claire McDonough is resigning her position at the end of October, the electric vehicle manufacturer announced in a regulatory filing. McDonough, who joined Rivian in early 2021 and was instrumental in its initial public offering, played a significant role in the launch of the company's R1T pickup and R1S SUV models. She also led cost-cutting and fundraising initiatives as Rivian worked to build a new plant and develop self-driving technology.
Her departure comes at a critical juncture for Rivian, as the company begins delivering its more affordable R2 SUVs, which are considered vital for its future success and profitability. Rivian had previously raised its annual delivery forecast last month, citing optimism surrounding these new vehicles. The company stated McDonough is stepping down to pursue a new opportunity and relocate to the East Coast to be closer to her family, and that her resignation is not the result of any disagreement. Rivian is searching for a replacement, with vice president of finance Derek Mulvey set to serve as interim CFO once McDonough leaves.