09:22 AM EDT, 05/03/2024 (MT Newswires) -- Rivian Automotive ( RIVN ) said Friday it has hired Javier Varela as its chief operations officer, starting in August.

Varela will succeed Frank Klein, who is stepping down after serving as COO since June 2022, according to the company.

Varela will join Rivian from Volvo Cars, where he served as COO and deputy chief executive, Rivian said.

Rivian shares were up 3.8% in recent premarket activity.

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