{"id":6398,"date":"2026-09-01T13:41:21","date_gmt":"2026-09-01T13:41:21","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=6398"},"modified":"2026-09-01T13:41:21","modified_gmt":"2026-09-01T13:41:21","slug":"ge-vernova-lands-rivians-cfo-leaving-ev-maker-to-find-successor","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=6398","title":{"rendered":"GE Vernova lands Rivian\u2019s CFO, leaving EV maker to find successor"},"content":{"rendered":"
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McDonough will join GE Vernova in November and become CFO on Jan. 1, succeeding Kenneth Parks, who is retiring. Derek Mulvey, Rivian\u2019s VP of finance, is expected to serve as interim CFO after McDonough leaves.<\/p>\n

Read more Trump\u2019s \u2018biggest oil deal in world history\u2019 in Venezuela reeks of \u2018colonial cronyism\u2019 and could easily fall apart, experts say<\/a><\/p>\n

Rivian shares fell more than 6% intraday Friday after the announcement, while GE Vernova shares declined about 3%. Investors and analysts pointed to Rivian\u2019s lack of a clear long-term successor as one factor weighing on its shares.<\/p>\n

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Cullen Rogers, portfolio manager of the Wedbush ReturnOnLeadership U.S. Large-Cap ETF, told me Rivian\u2019s leadership pipeline helps explain the sharper reaction. \u201cMarkets don\u2019t just react to who\u2019s leaving; they react to how visible the succession plan is,\u201d Rogers said.<\/p>\n

GE Vernova\u2019s announcement offers a clearer handoff, with Parks staying on as an advisor after McDonough arrives. Rivian has yet to name a permanent successor.<\/p>\n

McDonough joined Rivian as CFO in January 2021, months before its $13.7 billion IPO that November. She also helped negotiate Rivian\u2019s technology joint venture with Volkswagen, which agreed to invest up to $5.8 billion.<\/p>\n

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Rogers said that experience should translate to GE Vernova. \u201cThat\u2019s a transferable skill set, not a personal one,\u201d he said.<\/p>\n

At Rivian, McDonough\u2019s departure will test whether the EV maker has built a finance team that can carry on without her. \u201cThe next two quarters are the real test that will tell whether strong leadership was distributed across the team or concentrated in one office,\u201d Rogers said.<\/p>\n

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Morningstar senior equity analyst Seth Goldstein expects Rivian to stay on its current financial course. The company is working toward profitability and positive free cash flow as it ramps up production of its lower-priced electric SUV, he said. Its finance team will also manage Rivian\u2019s cash and may raise more capital if needed. Morningstar has raised its fair value estimate for Rivian to $22 a share from $20.<\/p>\n

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Goldstein expects Rivian\u2019s capital allocation strategy to remain unchanged and points to its profitability guidance and timeline for reaching positive operating cash flow as key measures.<\/p>\n

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McDonough also leaves Rivian with a record of cost discipline. \u201cDuring her time at Rivian, McDonough proved to be a finance leader with a focus on cost discipline,\u201d Goldstein said. \u201cI view this as an asset at any company.\u201d<\/p>\n

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Sheryl.Estrada@fortune.com<\/p>\n

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Leaderboard<\/h3>\n

Fortune 500 Power Moves<\/b><\/h4>\n

Jessica Fischer,<\/b> CFO of Charter Communications (No. 85), since 2021, will step down from her role, effective Oct. 15, to relocate for another professional opportunity. Fischer first joined the company in 2017 as deputy treasurer. Kevin Howard, currently EVP and chief accounting officer and controller, was appointed interim CFO. The company will begin a search for a permanent CFO.<\/p>\n

Read more Do CEOs actually matter? Pulitzer winner Jared Diamond ran \u2018natural experiments\u2019 to find out<\/a><\/p>\n

The weekly Fortune 500 Power Moves column tracks Fortune 500 company C-suite shifts\u2014<\/i>see the most recent edition.<\/i><\/p>\n

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More notable moves:<\/b><\/h4>\n

Julia Brau Donnelly<\/b>, CFO of Pinterest, Inc. since 2023, is stepping down, effective Oct. 30, to pursue another opportunity, according to an . The company has begun an external search process to identify Donnelly’s successor. Vikram Naidu was appointed principal financial officer on an interim basis. Naidu has served as VP of finance and business operations at Pinterest since March 2024.<\/p>\n

Michael Grasher<\/b> was appointed CFO of Teladoc Health, Inc. (NYSE: TDOC), a virtual health care company, effective immediately. Grasher has more than three decades of experience across the insurance and financial services sectors, including more than 12 years in CFO roles. He most recently served as CFO of IFG Companies. Before that, Grasher served as CFO and EVP of Fortegra, and as CFO and EVP of Amerisafe.<\/p>\n

Big Deal<\/h3>\n

Marsh’s latest Mercer QuickPulse survey of 1,001 U.S. organizations found employers plan average 2027 merit increases of 3.2% and total salary increases of 3.5%, roughly matching 2024-2026 levels and marking a fourth straight year of moderate raises.<\/p>\n

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High tech (3.8%) and banking (3.7%) lead industry budgets; consumer goods and retail lag near 3%. Most employers (87%) were still finalizing budgets as of July, with 57% expecting economic uncertainty to shape decisions.<\/p>\n

Promotions are projected to dip to 8.4% of the workforce, while 64% plan off-cycle pay adjustments. AI adoption in compensation planning is widespread but shallow, with just 1% at an advanced stage.<\/p>\n

Going deeper<\/h3>\n

“Apple\u2019s John Ternus era: Can a low-key engineer win the AI race?” is a Fortune<\/em> feature by\u00a0Sebastian Herrera.\u00a0<\/p>\n

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Herrera writes: “John Ternus will certainly have plenty of hard things to work out at the $4.6 trillion company that he\u2019ll lead as of Tuesday, when Tim Cook ends his tenure as CEO and becomes executive chairman of Apple\u2019s board of directors. While the consumer giant\u2019s reach has never been wider, it\u2019s also confronting some of the biggest trials of its 50-year history.” Read more here.<\/p>\n

Overheard<\/h3>\n

“Broadly speaking, we don\u2019t see AI eliminating jobs at scale. What we do see\u2014what our data shows\u2014is that the world of work is evolving.”<\/b><\/p>\n

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\u2014ADP CEO Maria Black writes in a Fortune<\/i> opinion piece. “We see that AI is reshaping work at the task level,” Black writes. “It is changing the workforce, not shrinking it. And while AI\u2019s impact is certainly real, it varies significantly by sector, company size, career stage, and geography.” Read more here.\u00a0<\/p>\n

Read more Nvidia CEO Jensen Huang says AI will create \u2018hundreds of thousands\u2019 of new jobs\u2014including for people who want to \u2018make things with their hands\u2019<\/a><\/p>\n

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GE Vernova is betting on the executive who helped take Rivian public.<\/p>\n","protected":false},"author":1,"featured_media":6397,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[208],"tags":[],"class_list":["post-6398","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cfo-daily"],"yoast_head":"\nGE Vernova lands Rivian\u2019s CFO, leaving EV maker to find successor - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=6398\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GE Vernova lands Rivian\u2019s CFO, leaving EV maker to find successor - Cross Country Moving Team\" \/>\n<meta property=\"og:description\" content=\"GE Vernova is betting on the executive who helped take Rivian public.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/crosscountrymovingteams.com\/?p=6398\" \/>\n<meta property=\"og:site_name\" content=\"Cross Country Moving Team\" \/>\n<meta property=\"article:published_time\" content=\"2026-09-01T13:41:21+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=6398#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=6398\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/#\\\/schema\\\/person\\\/1b8121bfb9a1c55d1fff3fca675fceaa\"},\"headline\":\"GE Vernova lands Rivian\u2019s CFO, leaving EV maker to find successor\",\"datePublished\":\"2026-09-01T13:41:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=6398\"},\"wordCount\":925,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=6398#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/wp-content\\\/uploads\\\/2026\\\/09\\\/f77a4ce7a0f1ce80c2e050892e0dcaed.webp\",\"articleSection\":[\"CFO Daily\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=6398#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=6398\",\"url\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=6398\",\"name\":\"GE Vernova lands Rivian\u2019s CFO, leaving EV maker to find successor - 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