Rivian Loses Its Shine as Investors Fret About Production Delays

The company also did not tell investors that its chief operating officer, Rod Cops, a Harley-Davidson veteran, left the company last year. Public companies and those in the process of listing their shares usually announce the departure of top executives. The news was first reported by The Wall Street Journal.

Ms. Maste said Mr. The Cops “phased out the revision in the fall of 2021 before the IPO” and retired in December after the offer.

Mr. The 55-year-old cops said in an interview that he did not leave the revision because of concerns about his performance or problems with production. He said he has achieved key goals and is in place to structure structures for Raven’s ramp-up in production. “It was a smooth and seamless transition,” Mr. Cops said.

But corporate governance experts believe the reviewer should disclose his imminent departure to investors during the IPO, given his senior role. John C., a professor at Columbia Law School. Coffee Jr., in an email, said, “If they only knew he was leaving, the best announcement would be to identify his COO but indicate that he is leaving.”

According to a former executive, Rivian’s management culture is weak.

Executive Laura Schwab said she was fired from a top-ranked sales and marketing position last year after she expressed concern about what she called “boy club culture” and “gender discrimination” in the company. She pleaded guilty in state court in California to violating state law prohibiting employment discrimination and retaliation against Rivian.

Ms. Schwab said she has been part of 30 vehicle introductions to previous jobs in the auto industry, including Aston Martin and Jaguar Land Rover. Soon after arriving in Rivian, she said, she was forced to express concern that the company was in danger of losing delivery targets.

“Production lines don’t go from zero to thousands of cars overnight; It just doesn’t work that way, “she said.

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