Rivian’s CFO is leaving the company

Rivian's CFO Claire McDonough is departing the company at the end of October, the company announced Thursday in a regulatory filing. McDonough is stepping down to pursue a new opportunity and relocate to the East Coast to be closer to her family, the company said. Her resignation is not due to any disagreement within the company.

Rivian is currently embarking on several major projects, including scaling up the production and sales of its R2 SUV, which began shipping to customers this summer. McDonough joined Rivian in January 2021 as CFO, taking over from Ryan Green during a critical and turbulent period for the company.

At the time, Rivian was still a private entity, having raised billions of dollars to bring its three electric vehicles - the R1T truck, R1S SUV, and a commercial delivery van - to market. The company faced numerous delays and added costs, further complicated by supply chain issues. In her first year at Rivian, McDonough played a significant role in helping the company start production of the R1T truck and raise $12 billion in one of the year's largest IPOs.

Though McDonough had no automotive industry experience, she had worked closely with the design and engineering teams and the company's founder and CEO, RJ Scaringe, to ensure future vehicles were both modern and profitable. She also played a crucial role in a lucrative joint venture with Volkswagen Group, under which VW committed to investing up to $5.8 billion into Rivian by 2027.