Critical Shifts:
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CFO Departure & Timeline: CFO Claire McDonough is stepping down on October 30, 2026, to pursue a new opportunity and relocate to the East Coast, assisting with a two-month transition alongside CEO RJ Scaringe.
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Interim Leadership & Search: Rivian is conducting an internal and external search for a permanent CFO, with VP of Finance (and former J.P. Morgan VP) Derek Mulvey expected to serve as interim CFO upon McDonough's departure.
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McDonough's Impact: Since joining in 2021, McDonough led Rivian's $13.7 billion IPO, established its core financial structure, guided capital allocation, and spearheaded cost-reduction initiatives to support long-term margins.
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Rivian Automotive, Inc. on Aug. 27 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 to ensure a seamless and thorough transition. During this period, she will work closely with CEO RJ Scaringe and the executive leadership team to transition key strategic initiatives. Her final day with Rivian will be Oct. 30, 2026.
Rivian has a comprehensive executive search process underway, evaluating both internal and external candidates, to identify the company’s next Chief Financial Officer. To maintain operational continuity, Derek Mulvey, vice president of finance, is expected to be appointed interim chief financial officer, effective upon McDonough’s departure. Mulvey joined Rivian in 2021 and has worked closely with Scaringe and McDonough on the company’s financial planning, strategic partnerships, capital allocation and investor relations. He has been instrumental in Rivian’s strategy and execution and will enable a seamless transition. 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 historic $13.7 billion initial public offering in November 2021, one of the largest IPOs in U.S. history, securing the capital required to scale initial manufacturing operations at its Normal, Illinois facility. Throughout her tenure, McDonough and her team have built robust capital management frameworks across major growth cycles, driven cost-reduction initiatives essential to achieving long-term gross margin targets and helped structure key strategic partnerships.
