Rivian CFO Claire McDonough Resigns, Stock Down 6% Intraday; Will Join GE Vernova, Whose Stock Falls 3%
Electric vehicle manufacturer Rivian announced that Chief Financial Officer Claire McDonough has resigned and will depart at the end of October to become CFO of GE Vernova. Following this news, Rivian's stock price fell 6% intraday to $15.80, while GE Vernova's stock price dropped 3% to $929.58. During her tenure at Rivian, McDonough facilitated a $5.8 billion investment from Volkswagen and is leaving just as the R2 SUV begins shipping to customers. On the same day, Lucid's stock price fell 1%, and Tesla's stock price remained largely flat, with the market viewing this change as a specific weakness within the EV sector.
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