By Rajwa Quasim
Rivian Automotive announced Thursday that its Chief Financial Officer Claire McDonough will leave the company on Oct. 30, ending nearly six years in the role.
McDonough joined Rivian Automotive in January 2021. The company announced that McDonough is stepping down to pursue a new opportunity and is relocating to the U.S. East Coast to be closer to her family. The company said her resignation is not the result of any disagreement with management or the board.
Rivian has begun searching for a permanent replacement and is considering both internal and external candidates. Meanwhile, Rivian’s Vice President of Finance Derek Mulvey is expected to become interim CFO when McDonough leaves.
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Her departure comes as Rivian takes on some of its biggest projects, including increasing production and sales of its R2 SUV, which began shipping to customers this summer. The company, which is still privately owned, has raised billions of dollars to develop and launch three electric vehicles — the R1T truck, R1S SUV and a commercial delivery van. McDonough worked closely with CEO RJ Scaringe on financial planning, capital allocation, strategic partnerships and investor relations. Before joining Rivian, she worked as a vice president at JPMorgan.
McDonough played a key role in guiding the company through its initial public offering (IPO) in 2021, when the company raised about $13.7 billion. It was one of the largest U.S. IPOs at the time. She later led the company’s efforts to expand its manufacturing operations in Normal, Illinois.
Rivian CEO RJ Scaringe said, “Claire joined Rivian almost six years ago, and she’s had a meaningful impact on our business and our teams during a transformative period of growth. I’m thrilled that Derek is taking on the interim CFO role. Derek has worked incredibly closely with me, Claire and our leadership team for several years and will enable a seamless transition.”
McDonough wrote in her LinkedIn post, “Together, we launched the R1T, R1S, and our commercial van, drove technology innovation and partnerships, built our go-to-market operations, and positioned the company for global scale and profitability with the launch of R2. […] Being part of taking Rivian from an ambitious vision to a category-defining enterprise has been the highlight of my career.”
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She also played a role in Rivian’s major partnership with German automaker Volkswagen. Under the technology joint venture finalized in 2024, Volkswagen agreed to invest $5.8 billion in Rivian by 2027 in exchange for access to the EV maker’s electrical architecture and software technology.
According to McDonough’s LinkedIn post, she has been hired as Chief Financial Officer at Massachusetts-based energy equipment company GE Vernova.
Rivian’s shares fell 2.1% in after-hours trading following the announcement of her resignation. The stock, which debuted at $78 in its 2021 IPO, closed at $16.80 on Thursday.