Rivian CFO Departs, Shares Fall Over 1% in After-Hours Trading

According to an official statement released by Rivian Automotive Inc. on Thursday, Chief Financial Officer Claire McDonough has departed from the electric vehicle maker. She joined the company in January 2021. The company's shares fell 1.07% in after-hours trading.

VP of Finance to Serve as Interim CFO

Rivian stated that McDonough will "continue to serve as Chief Financial Officer for the next two months to ensure a seamless and thorough transition." The automaker "expects" to appoint Derek Mulvey, Vice President of Finance, as interim CFO following McDonough's departure.

The company said: "Rivian is conducting a comprehensive executive search process, evaluating both internal and external candidates, to determine the company's next Chief Financial Officer." McDonough led Rivian's IPO in 2021, helping the company complete its initial public offering of $13.7 billion.

Rivian CEO RJ Scaringe said in the statement: "During a transformative period of growth for the company, she has had a profound impact on our business and team." McDonough described her time at the automaker as a "highlight" of her career. She also cited her desire to be closer to home as the reason for her departure.

According to an official statement from GE Vernova Inc., McDonough will join the energy company as Chief Financial Officer in November this year, "with a full transition to the CFO role effective January 1, 2027."

Rivian Shareholder Moves and Gary Black's Apple Comparison

In the second quarter of 2026, institutional investors increased their holdings in the electric vehicle maker's portfolio by more than 70 million shares. According to filings with the U.S. Securities and Exchange Commission, 417 holders collectively added 106,424,812 shares, while 318 investors reduced their positions by 31,005,657 shares.

Uber Technologies Inc. and Amazon.com Inc. remain among the company's major investors, with Uber having previously promoted its $1.25 billion Robotaxi partnership with Rivian. Meanwhile, Gary Black of The Future Fund LLC praised the launch of Rivian's R2 crossover, comparing it to Apple's expansion from computers to phones.

Stock price movement: Since the news of McDonough's resignation as CFO was announced, Rivian shares fell 1.07% in overnight trading Thursday, to $16.62.