Rivian CFO exits for GE Vernova as R2 rollout begins
What's the deal? Rivian's chief financial officer Claire McDonough is resigning at the end of October, the EV maker said in a regulatory filing Thursday. She is joining Massachusetts-based energy equipment manufacturer GE VernovaDealroom has a profile for this one. Try Dealroom → as CFO, according to that company and her own LinkedIn post.
Who fills the gap? Rivian is searching for a replacement. Vice president of finance Derek Mulvey will serve as interim CFO once McDonough leaves. The company said her departure is "not the result of any disagreement" and that she is relocating to the East Coast to be closer to family.
Why now? The exit lands as Rivian scales one of its biggest projects to date: production and sales of its R2 SUV, which started shipping this summer.
What she built: McDonough joined in January 2021, replacing Ryan Green, at a tumultuous time for the then-private startup. In her first year, Rivian began building its R1T truck and raised $12 billion in one of the year's biggest IPOs. The stock debuted at $78 but closed at $16.80 Thursday.
The track record: With no prior automotive experience — she came from JP Morgan and Fairway Market — McDonough focused on improving Rivian's balance sheet and cost of revenue. She was a key figure in the technology joint venture with Volkswagen GroupDealroom has a profile for this one. Try Dealroom →, finalized in November 2024, under which VW agreed to invest up to $5.8 billion by 2027 for access to Rivian's software and electrical architecture.
"Being part of taking Rivian from an ambitious vision to a category-defining enterprise has been the highlight of my career," McDonough wrote on LinkedIn.
The signal: Losing a finance chief who steered its IPO and the Volkswagen deal adds pressure at a pivotal moment. Rivian must now execute its R2 launch — its bet on reaching global scale and profitability — during a leadership handover.
Read more: TechCrunch
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