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Ford Exits Rivian Board as Electric-Truck Startup Prepares IPO

Rivian R1T
Rivian R1TSource: Rivian

Ford Motor Co. has vacated its seat on the board of Rivian Automotive Inc. as the electric-truck startup prepares to go public with an expected valuation of $80 billion.

Doug Power, Ford’s newly hired vice president of corporate development, stepped down from Rivian’s board last month. He had taken the spot held by Alexandra Ford English, great-great granddaughter of founder Henry Ford, who left Rivian in May when she became a director at her namesake company.