Claire McDonough will remain CFO for two months to hand off strategic work with CEO RJ Scaringe and the leadership team, Rivian said.

  • GE Vernova simultaneously named McDonough its next CFO.
  • The change lands as Rivian pushes its more affordable midsize R2 SUV, which began public customer deliveries in early June. 
  • Vice President of Finance Derek Mulvey, who joined Rivian in 2021 from J.P. Morgan, is expected to become interim CFO when McDonough leaves.

Shares of Rivian Automotive (RIVN) slipped 2% after-hours on Thursday as the company said Chief Financial Officer Claire McDonough will step down on October 30, ending a nearly six-year run that spanned the EV maker’s IPO, R1 launch and the start of R2 deliveries.

RIVN On Lookout For New Permanent CFO

Rivian said McDonough is departing to pursue a new opportunity and relocate to the East Coast to be closer to family. She will remain CFO for two months to hand off strategic work with CEO RJ Scaringe and the leadership team.

The company is searching internally and externally for a permanent successor. Vice President of Finance Derek Mulvey, who joined in 2021 from J.P. Morgan and has worked with Scaringe and McDonough on planning, partnerships, capital allocation and investor relations, is expected to become interim CFO when she leaves.

Scaringe called McDonough a trusted partner who helped build Rivian’s financial frameworks after its $13.7 billion 2021 IPO. McDonough said she has “absolute confidence” in Rivian’s trajectory.

McDonough’s Next Role At GE Vernova

Simultaneously, GE Vernova named McDonough its next CFO. She will join in November 2026 and assume the title on January 1, 2027, succeeding Ken Parks, who will stay through 2026 earnings, then advise before retiring in April 2027.

Exit Comes As R2 Rollout Accelerates

The change lands as Rivian pushes its more affordable midsize R2 SUV, which began public customer deliveries in early June from Normal, Illinois. In early July, the company raised full-year 2026 delivery guidance to 65,000–70,000 vehicles after Q2 production of 12,613 and deliveries of 12,194.

Last month, Rivian reported second-quarter revenue of $1.66 billion, up 27% year over year, and record gross profit of $179 million, aided by software-and-services revenue—including fees from the Volkswagen joint venture—and regulatory credits, even as the automotive segment remained unprofitable.

Rivian also completed a July equity offering, selling 86.25 million Class A shares at $15.50 and raising about $1.3 billion after fees to meet equity-contribution rules on its amended $4.5 billion Department of Energy loan for the Georgia plant before first draws in early 2027.

How Did RIVN Retail Traders React?

On Stocktwits, retail sentiment around RIVN stock remained ‘neutral’ over the past 24 hours, while message volume was at ‘normal’ levels.

A Stocktwits user dismissed the CFO’s exit as a “real nothing burger” and opined that the stock will open higher on Friday.

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Other users opined that the exit might be a good thing, helping bring in a new CFO who can drive the stock higher.

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A third user voiced optimism that increasing R2 deliveries would drive Rivian to profitability.

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RIVN stock has fallen 15% year-to-date. 

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