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.
Not really. Apparently you didn't watch the massive turnover Tesla had with its top talent.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.
Here's another article from The Verge.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.