Buy Crypto Markets Spot FuturesSPCX Earn Event Center

Rivian (NASDAQ: RIVN) has fumbled the ball at least twice recently as the company launches what it calls the “affordable” R2. Most versions of the SUV cost $55,Rivian (NASDAQ: RIVN) has fumbled the ball at least twice recently as the company launches what it calls the “affordable” R2. Most versions of the SUV cost $55,

Rivian CEO RJ Scaringe Should Be Fired, But Can’t Be

Author: 247 Wall St.

Source: 247 Wall St.

2026/06/17 23:03

2 min read

R2$0.001956+1.13%

For feedback or concerns regarding this content, please contact us at crypto.news@mexc.com

The post Rivian CEO RJ Scaringe Should Be Fired, But Can’t Be appeared first on 24/7 Wall St..

Rivian (NASDAQ: RIVN) has fumbled the ball at least twice recently as the company launches what it calls the “affordable” R2. Most versions of the SUV cost $55,000 to $60,000. At least that it is $20,000 or more below its current model R1S and R1T

Lease prices for the R2 range from $800 to $1,100, depending on which analysis is used to set the number. Many potential buyers think it is too high.

Just after the launch, Rivian laid off 2% of its 15,700-person workforce. Scaringe did not take a pay cut to save the company money or to show any sympathy. His new pay package is for $403 million. According to the FT, “The founder of electric-truck maker earns about 13 times more than next best-paid American auto executive”

Rivian’s stock is down 88% in the last five years, while the S&P 500 is 60% higher.

As we have often written on these pages, Rivian produced 10,236 vehicles in the first quarter of the year. It delivered 10,365. Rivian lost $416 million in Q1.

But, for those of you who don’t know how a corporate structure can be set up so that the CEO can hold their job permanently, Rivian has a dual share arrangement. There is the common stock, and then there are the Class B shares. The Class B shares have 100% voting power and control of the company. Scaringe can’t ne fired.

Several other famous companies and dozens of others have similar voting structures. These include Ford (NYSE: F), The New York Times, Alphabet (NASDAQ: GOOG), and Meta (NASDAQ: META). The notion that shareholders have a say in governance or board selection is false.

Scaringe is more clever than he is successful–at least at running Rivian.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Rivian didn’t make the cut. Grab the names FREE today.

The post Rivian CEO RJ Scaringe Should Be Fired, But Can’t Be appeared first on 24/7 Wall St..

Market Opportunity

R2 Protocol Price(R2)

$0.001956

$0.001956$0.001956

+0.77%

USD

R2 Protocol (R2) Live Price Chart

World Cup Combo: Aim for 200x

Combine up to 20 World Cup matches in one order

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact crypto.news@mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

Tags:

#Hat #Tim #Vera #1 #Abe