Rivian Automotive Inc. (RIVN, 0.33%) has lost several high-ranking executives in recent months, including its vice president of body engineering and its head of supply chain.
A spokeswoman for Rivian confirmed the departures. This is the latest bad news for the company, which is putting out its first all-electric models but didn’t meet a key production goal of 25,000 vehicles last year. The company blamed a lack of parts availability for the shortfall of about 700 vehicles.
Since its record-breaking IPO in November 2021, Rivian’s stock has also fallen precipitously, down about 79% through Monday’s close.
Some of Rivian’s top executives have left the company after many years of service. Some of these executives are Randy Frank, v.p. of body and interior engineering, and Steve Gawronski, v.p. of parts purchasing. Both had left at the start of the year.