Rivian announced that its chief financial officer, Claire McDonough, will be stepping down at the end of October to pursue a new opportunity and move closer to her family on the East Coast. McDonough has accepted the CFO position at Massachusetts-based GE Vernova. Rivian emphasized that her departure is not due to any disagreement with the company, and vice president of finance Derek Mulvey will serve as interim CFO while they search for a permanent replacement.

McDonough joined Rivian as CFO in January 2021, replacing Ryan Green during a critical phase when the company was transitioning from private to public status amidst production challenges and supply chain issues. Under her leadership, Rivian began production of its R1T truck and completed one of the largest IPOs of 2021, raising $12 billion. Despite these achievements, the company's stock price has dropped significantly since its debut, reflecting the difficulties the company has faced.

Throughout her tenure, McDonough played a vital role in managing Rivian’s financial health, including controlling costs and collaborating closely with CEO RJ Scaringe and design teams to ensure profitability on vehicle production. She was also responsible for various areas beyond finance, such as vehicle maintenance, facilities, and the company’s charging network. Additionally, McDonough was instrumental in developing the $5.8 billion joint venture deal with Volkswagen finalized in November 2024, which gives VW access to Rivian’s electric vehicle architecture and software.

McDonough reflected on her time at Rivian as the highlight of her career, citing the launch of the R1T, R1S, and commercial van models, as well as positioning the company for global scale with the recently introduced R2 SUV. Her departure comes as Rivian is ramping up production and sales of the R2, amidst ongoing efforts to expand its market presence and achieve profitability.