There's a bunch of buzz on Twitter this morning that Rivian's Manufacturing Head Charly Mwangi will be leaving and that the company will split the role between retail and commercial vehicle operations.
Rivian Reshuffles Leadership to Keep up with Growth Plans
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Not really. Apparently you didn't watch the massive turnover Tesla had with its top talent.
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That just proves @Junkanoo 's point
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Both Reuters and Bloomberg have articles on this.
While the reason for Mwangi's departure is far from clear, I don't think anyone is all that thrilled with Rivian's transition to full-rate production, supply chain issues notwithstanding. Executive churn is kind of the MO for companies at Rivian's stage of business life, and I don't think this change is that big of a deal. In my opinion, what Rivian needs at this juncture is an exec with a strong production background, preferably in the automotive word, to step in and guide the company. Perhaps RJ can give a call to Alan Mulally and see if he's interested or can recommend someone.
By the way, the reason $RIVN is up today has much more to with the good general economic news that has the whole market rallying than this management change.
While the reason for Mwangi's departure is far from clear, I don't think anyone is all that thrilled with Rivian's transition to full-rate production, supply chain issues notwithstanding. Executive churn is kind of the MO for companies at Rivian's stage of business life, and I don't think this change is that big of a deal. In my opinion, what Rivian needs at this juncture is an exec with a strong production background, preferably in the automotive word, to step in and guide the company. Perhaps RJ can give a call to Alan Mulally and see if he's interested or can recommend someone.
By the way, the reason $RIVN is up today has much more to with the good general economic news that has the whole market rallying than this management change.
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Here's another article from The Verge.
Rivian manufacturing executive leaves as part of reorganization
Rivian is splitting its commercial and retail businesses.
www.theverge.com
Rivian’s Charly Mwangi, its executive vice president of manufacturing engineering and a former Tesla exec, is leaving the company as part of a bigger shakeup splitting up parts of the company, according to Bloomberg. “The reorganization calls for splitting the commercial business, which includes delivery vans made for Amazon, from the retail side of the company that produces the R1T plug-in pickup truck and R1S sport-utility vehicle,” Bloomberg reports. The company’s new COO, Frank Klein, will now oversee “many” senior manufacturing and supply chain employees. The Wall Street Journal also reported on the shakeup.
The changes are happening as the company is starting to ramp up production of its in-demand R1T and R1S electric vehicles. In its latest earnings call, the company said it delivered 1,227 vehicles to customers last quarter and has produced about 5,000 vehicles. But the company also said it has more than 90,000 reservations for the R1T and R1S vehicles, meaning that it has a ways to go to catch up to demand. Rivian said in April that it plans to produce 25,000 vehicles in 2022, and the company has lofty goals for the long term: in November, CEO RJ Scaringe said Rivian wants to be making at least 1 million vehicles per year by 2030.
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