[St00k]

Looks like the market likes it

 

[Junkanoo]

When a dude has been in the position for such a short time leaves ... it's very telling. It means that manufacturing issues go far beyond sourcing issues. Otherwise, they would just have two leads for both Retail and Commercial reporting to him.

 

[eHauler]

Funny how RJ bought more shares not long ago when it was in the low $20 range.

Since then the stock has seen more upwards momentum than it has for some time.

 

[David G.]

When a dude has been in the position for such a short time leaves ... it's very telling. It means that manufacturing issues go far beyond sourcing issues. Otherwise, they would just have two leads for both Retail and Commercial reporting to him.

Not really. Apparently you didn't watch the massive turnover Tesla had with its top talent.

 

[sciencegeek]

Not really. Apparently you didn't watch the massive turnover Tesla had with its top talent.

That just proves @Junkanoo 's point

 

[Yossarian]

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.

 

[JimmyEV]

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.

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.