Rivian Automotive, Inc. announced that Chief Financial Officer Claire McDonough has decided to step down from her role to pursue a new opportunity and relocate to the East Coast to be closer to her family.
McDonough will remain in her role as CFO over the next two months, with her final day on October 30. During this period, she will work closely with CEO RJ Scaringe and the executive leadership team to transition key strategic initiatives.
"Serving as Rivian’s CFO alongside RJ and this exceptional team has been the highlight of my career," McDonough said. "I am tremendously proud of everything we have accomplished together, from building and scaling the business with the launch of R1 and our commercial van to establishing the financial and operational foundation that will propel the company through the ramp of R2 and beyond."
The automaker began a comprehensive executive search process, evaluating both internal and external candidates, to identify the company’s next CFO. To maintain operational continuity, the company expects Vice President of Finance Derek Mulvey to fill the interim position.
Mulvey joined Rivian in 2021 and has collaborated with Scaringe and McDonough on the company’s financial planning, strategic partnerships, capital allocation and investor relations. Prior to his tenure at Rivian, Mulvey was vice president at J. P. Morgan.
Since joining Rivian in January 2021, McDonough played a central role in constructing Rivian’s financial foundation and navigating its growth as a public company. Under her leadership, Rivian executed its $13.7 billion initial public offering in November 2021, securing the capital required to scale initial manufacturing operations at its Normal, Illinois facility.
Throughout her tenure, McDonough and her team built capital management frameworks across major growth cycles, drove cost-reduction initiatives essential to achieving long-term gross margin targets and helped structure key strategic partnerships.
