Claire McDonough, Rivian’s Chief Financial Officer, is set to resign at the end of October, according to a regulatory filing released by the company.
Rivian disclosed that McDonough is leaving to “pursue a new opportunity and move to the East Coast to be closer to her family.” She has accepted a position as CFO at GE Vernova, an energy equipment company based in Massachusetts, as indicated by her LinkedIn post.
The company emphasized that McDonough’s resignation is “not due to any disagreements.” Rivian has already begun the search for her successor, with Derek Mulvey, Vice President of Finance, stepping in as interim CFO after her departure.
Her exit comes at a crucial time for Rivian as it embarks on significant initiatives, including ramping up production and sales of its R2 SUV, which began deliveries to customers this summer.
McDonough joined Rivian as CFO in January 2021, during a pivotal period for the company. At that time, Rivian was still privately held and had raised substantial funding to launch three electric vehicles: the notable R1T truck, the R1S SUV, and a commercial delivery van.
The company faced numerous obstacles, including delays, rising costs, and supply chain issues, all while depleting its capital reserves.
In her first year, Rivian began producing the R1T truck and secured $12 billion in one of the most significant IPOs of the year. However, the company’s stock, which started at $78, has dropped to $16.80 as of the latest market close.
McDonough was instrumental in enhancing the company’s financial health, particularly in managing its cost of revenue. Despite lacking direct automotive industry experience—previously working at JP Morgan and Fairway Market—she collaborated closely with design and engineering teams and CEO RJ Scaringe to ensure that upcoming vehicles were both innovative and financially viable. Her responsibilities included corporate and business development, vehicle maintenance, facilities management, and expanding Rivian’s charging network.
In her role as CFO, she also played a significant part in a technology joint venture with Volkswagen Group. This agreement, finalized in November 2024, committed VW to investing up to $5.8 billion in Rivian by 2027 in exchange for access to its electric architecture and software expertise.
“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,” McDonough shared on LinkedIn. “Being part of taking Rivian from an ambitious vision to a category-defining enterprise has been the highlight of my career.”
