Rivian appoints former Tesla VP as Chief Accounting Officer

IRVINE, Calif. - Rivian Automotive, Inc. (NASDAQ: RIVN), currently valued at $12.47 billion, has named Sreela Venkataratnam as its new Chief Accounting Officer, with her tenure beginning on March 10. Venkataratnam, who brings over 25 years of experience in finance and accounting, will oversee Rivian’s accounting operations, including financial reporting, tax and trade, internal controls, compliance, finance transformation management, and manufacturing controllership. According to InvestingPro data, this appointment comes at a crucial time as the company maintains a strong liquidity position with more cash than debt on its balance sheet.

Before joining Rivian, Venkataratnam served as Vice President of Finance and Business Operations at Tesla from 2013 to 2024, where she played a pivotal role in expanding Tesla’s global operations and improving business efficiencies during a period of significant growth. Her career includes positions at Kleiner Perkins, Intuitive Surgical Inc., and Mercury Interactive Corp., after starting as an auditor at Ernst & Young in Toronto, Canada. She later moved to Silicon Valley in 1998.

Venkataratnam expressed enthusiasm about her new role, emphasizing the exciting phase Rivian is entering with a recent achievement of positive gross profit in the last quarter and the upcoming launch of the R2 vehicle. Her focus will be on building upon Rivian’s financial foundations and scaling the organization. The company reported revenue of $4.97 billion in the last twelve months, with a 12.09% growth rate, though InvestingPro analysis indicates the company is still working toward profitability with significant cash burn.

Rivian is recognized for developing and producing electric vehicles and related software and services, aiming to advance the shift to zero-emission transportation. The company’s products are designed for both recreational and commercial use, with a commitment to sustainability. Rivian operates in the United States, selling vehicles directly to consumers and commercial clients. With a current ratio of 4.7, the company maintains strong short-term liquidity, though investors should note that InvestingPro analysis shows volatile stock price movements and challenges in achieving consistent profitability. For deeper insights into Rivian’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.

This announcement is based on a press release statement issued by Rivian Automotive, Inc.

In other recent news, Rivian Automotive Inc has been the focus of several analyst assessments following its latest financial disclosures. The company reported fourth-quarter revenue of $1.7 billion, surpassing expectations set by Benchmark and consensus estimates. Despite achieving a gross profit of $170 million, Rivian’s guidance for vehicle deliveries in 2025 appears conservative, with estimates ranging between 46,000 and 51,000 vehicles, lower than previous predictions.

Stifel analysts maintain a Buy rating on Rivian, with a price target of $16, highlighting the company’s progress towards significant milestones and its sufficient liquidity, supported by investments from Volkswagen and a Department of Energy loan. Guggenheim also holds a Buy rating but reduced its price target to $16, noting Rivian’s success in meeting gross profit goals and the constructive commentary on costs for the upcoming R2 model. However, Guggenheim expressed concerns about the company’s conservative guidance for 2025.

In contrast, DA Davidson raised its price target to $13 while maintaining a Neutral rating, acknowledging Rivian’s marketing efforts and the benefits from its partnership with Volkswagen. Meanwhile, BofA Securities downgraded Rivian to Underperform, lowering the price target to $10 due to concerns about future performance and potential challenges from market conditions and government policies. Benchmark remains optimistic, reaffirming a Buy rating with an $18 price target, citing Rivian’s operational efficiencies and the anticipated launch of the R2 model in 2026.

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