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• The company’s shares have fallen more than 50% in the last year
Former Tesla employee, Charly Mwangi, who helped begin Rivian Automotive’s (NASDAQ: RIVN) manufacturing process, will leave the company.
Mwangi served as executive vice president since May 2020, at Rivian. He brought the R1T pickup truck and R1S SUV to production in late 2021.
The electric vehicle manufacturer, which has shed more than 50% of its value since holding the sixth-largest IPO in U.S. history last November, rallied on Friday during the early trading hours.
Mwangi’s departure comes shortly before, former Magna International executive Frank Klein, is set to take over as chief operations chief in June to oversee production.
Official confirmation regarding Mwangi’s departure is still not available on Rivian’s website but several news agencies confirmed the report.
Source: Rivian
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