Latest news with #ClaireRauhMcDonough
Yahoo
6 days ago
- Automotive
- Yahoo
Rivian announces new Atlanta headquarters
This story was originally published on Automotive Dive. To receive daily news and insights, subscribe to our free daily Automotive Dive newsletter. Rivian is expanding its presence in Georgia with a new East Coast headquarters in Atlanta, the company announced on its website July 17. The new office is currently under construction and slated to open later this year. Its workers will support the battery electric vehicle maker's operations in the state, including its new $5 billion factory near Social Circle, which will have an annual production capacity of 400,000 vehicles when fully built out. 'We are excited to establish our East Coast head office in Atlanta,' Rivian founder and CEO RJ Scaringe said in a statement. 'Atlanta embodies so much that makes Georgia great—top talent, exceptional creativity, and a desire to always be moving forward.' Rivian expects the Atlanta office to initially employ 100 people when it opens, according to the announcement, although the company didn't list specific jobs. After the site is fully built, it will house around 500 workers. The automaker's primary headquarters is in Irvine, California. The opening of an East Coast headquarters follows Rivian's announcement in late November that it would resume construction of its Georgia factory. In January, the automaker received final approval for a $6.6 billion loan from the Department of Energy, which the company said would help restart the stalled project. In March 2024, Rivian announced it was halting construction of its Georgia factory in order to save money, opting instead to transfer production of forthcoming R2 SUV to its plant in Normal, Illinois, to get the vehicle to market faster. In an Aug. 5 call with analysts, Rivian CFO Claire Rauh McDonough said the company had not yet started construction on its Georgia factory, which prevents it from drawing funds from its DOE loan. However, she noted that Rivian recognizes the 'attractive cost of capital' that the loan—which is available through September 2028—provides. 'So we do intend to draw on that loan as we look to expand our manufacturing base in Georgia,' McDonough said. Rivian has said it plans to resume construction on the plant in 2026 and start production by 2028. Recommended Reading Flexibility key in tariff turmoil: Toyota, Rivian execs
Yahoo
24-04-2025
- Automotive
- Yahoo
AutoZone (NYSE:AZO) Appoints Rivian CFO Claire Rauh McDonough To Board Of Directors
AutoZone recently announced the appointment of Claire Rauh McDonough to its Board of Directors, an addition bringing substantial financial acumen. This period saw a notable stock price increase of 8%, connecting indirectly to broader market trends as indexes, like the tech-heavy Nasdaq, experienced robust rallies amid positive earnings and tariff developments. Additional events within the quarter, such as an amended shareholder policy, enhanced governance structures, and an ongoing share buyback program, likely provided additional support to these gains, further solidifying investor confidence in the company's operational and financial maneuvers. We've identified 2 warning signs with AutoZone (at least 1 which is concerning) and understanding the impact should be part of your investment process. Explore 21 top quantum computing companies leading the revolution in next-gen technology and shaping the future with breakthroughs in quantum algorithms, superconducting qubits, and cutting-edge research. The recent appointment of Claire Rauh McDonough to AutoZone's board and the amended shareholder policies appear to align with the company's continued focus on its operational and financial strategies. These changes are likely to impact the ongoing share buyback program, which could enhance earnings per share. Such governance improvements could also bolster investor confidence in the company's future plans. Over the past five years, AutoZone achieved a total shareholder return of 246.45%, showcasing a robust long-term performance. In contrast, the company's stock performance over the past year exceeded both the US market and the US Specialty Retail industry, which returned 5.9% and 9.8%, respectively. This indicates strong resilience and growth in line with market conditions. The recent board changes and strategic initiatives could positively influence AutoZone's revenue and earnings forecasts due to enhanced governance and continued operational improvements. Analysts predict these moves will contribute to revenue growth through international expansion and advanced technology investments. As the company's current share price stands at US$3678.66, the consensus analyst price target of US$3791.59 suggests a modest potential increase of 3.0%. This targets AutoZone being perceived as fairly priced, reflecting the company's stable growth trajectory amidst global market challenges. The valuation report we've compiled suggests that AutoZone's current price could be inflated. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:AZO. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
