Rir position at the end of October, the company announced in a regulatory filing Thursday
The company said McDonough is stepping down to “pursue a new opportunity and relocate to the East Coast to be closer to her family.” McDonough has been hired as CFO at Massachusetts-based GE Vernova, according to the energy equipment manufacturer and her own post on LinkedIn.
Rit.” The company is already searching for a replacement, and vice president of finance Derek Mulvey will serve as interim CFO once McDonough leaves her post
Her departure comes as Ricaling up production and sales of its R2 SUV, which started shipping to customers this summer
McDonough was hired to the CFO spot in January 2021, replacing Ryan Green, at a critical and tumultuous time for Ried billions of dollars in its bid to bring three compelling electric vehicles — its flagship R1T truck and R1S SUV and a commercial delivery van — to market
Rided by supply chain constraints. It was also burning through capital
In her first year at Rid $12 billion in one of the biggest IPOs of the year. The company’s stock, which debuted at $78, has since fallen to $16.80, as of Thursday’s closing
McDonough was a key figure in the company’s quest to improve its balance sheet, and specifically its cost of revenue. While she didn’t have any direct experience working in automotive — she held previous positions at JP Morgan and Fairway Market — McDonough was known for working closely with the design and engineering teams as well as founder and CEO RJ Scaringe to ensure future vehicles were modern and compelling without losing money on every sale, according to insiders who have spoken to TechCrunch in the past. Among her many responsibilities, McDonough led Rivian’s corporate and business development as well as a variety of other aspects of the business, including vehicle maintenance and repairs, facilities, and its charging network.
As CFO, she played a vital role in atechnology joint venture with Volkswagen Group. Under that deal, which was finalized in November 2024, VW agreed to invest up to $5.8 billion into Riure and software know-how
“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,” McDonoughwrote in a post on LinkedIn. “Being part of taking Ri has been the highlight of my career.”
