Rivian Automotive Inc. RIVN said Monday that Jim Chen, vice president of public policy, is planning to leave the EV maker, the latest executive departure at the company. A Rivian spokesperson told MarketWatch it was a “mutual agreement between Jim and Rivian,” and that Chen wanted to spend more time with family and that he would stay on for a number of weeks to ensure a smooth transition. Rivian stock rallied more than 11% on Monday. The stock has lost 72% in the last 12 months, compared with losses of around 9% for the S&P 500 index SPX, and as Rivian missed production targets earlier in the year. The shares are on track for their highest close since Dec. 20, when they closed at $18.43, and on pace for their largest one-day percentage increase since Nov. 30.
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