Rivian CFO Claire McDonough to Join GE Vernova — Update

By Kelly Cloonan and Elias Schisgall

Rivian Automotive Chief Financial Officer Claire McDonough is stepping down to become CFO of GE Vernova.

The electric-vehicle maker said Thursday it has started a search for its next CFO, and is evaluating both internal and external candidates.

The company expects to appoint Derek Mulvey, its vice president of finance, as interim CFO effective with McDonough's departure on Oct. 30. Mulvey joined Rivian in 2021, and previously worked at JPMorgan.

McDonough will join GE Vernova on Nov. 1 as a strategic advisor to Chief Executive Scott Strazik before assuming the CFO role on Jan. 1, the energy company disclosed in a Thursday regulatory filing.

She will succeed CFO Kenneth Parks, who will step down to serve as an adviser to Strazik on Jan. 1 before retiring on April 2.

McDonough joined Rivian in 2021 and led the company through its initial public offering later that year.

GE Vernova said it will pay McDonough make-whole awards for compensation she is forfeiting at Rivian, consisting of a sign-on cash payment of $5 million and equity awards valued at $14.5 million.

McDonough will also receive a base salary of $1 million and a target annual incentive plan equal to her base salary, as well as an equity award of around $5.2 million expected next year.

Write to Kelly Cloonan at kelly.cloonan@wsj.com and Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

August 27, 2026 17:54 ET (21:54 GMT)