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The Ex-Banker Running Rivian's Finances Has a Plan to Regain Wall Street's Trust

  • CFO McDonough helped the EV startup notch a $13.7 billion IPO
  • Company has had production problems, stock decline recently
Bloomberg business news
Rivian CFO's Big Challenge to Regain Wall Street Halo

Rivian Automotive Inc.’s Claire McDonough savored the stock market’s enthusiasm when she helped raise $13.7 billion in 2021’s biggest initial public offering. Suddenly, the electric-vehicle maker was more valuable than Ford Motor Co. or General Motors Co.

Now the first-time chief financial officer has to bend her own Wall Street experience to a new challenge: a 73% implosion in Rivian’s share price from its peak amid analysts’ downgrades, production snags, missed delivery targets and an embarrassing U-turn over pricing.