Nvidia CEO Jensen Huang resigns over scandal and is replaced by CFO Colette Kress on interim basis, follow live
Nvidia shares plunge 10% in pre-market trading after board ousts longtime boss Huang over two affairs, including with a suspected Chinese spy, in big blow to AI boom Too big – and too well-connected – to sack? Huang does not enjoy the supercharged voting rights that are par for the course elsewhere – his shareholding is a plain vanilla 3.6%. On the other hand, Nvidia’s board does not appear to have spent much time worrying about succession planning and “key person risk” or other standard concerns of corporate governance wonks outside the US. Continue reading...
Nvidia’s long-time boss Jensen Huang has stepped down over the scandal, and the company has appointed finance chief Colette Kress as interim chief executive.
The company issued this statement just now, after its board met last night:
double quotation mark The Board of Directors announced today that Jensen Huang has resigned as President, Chief Executive Officer, and a member of the Board, effective immediately.
Colette Kress, current Executive Vice President and Chief Financial Officer of NVIDIA, has agreed to serve as Interim Chief Executive Officer. Kress will continue to serve as Executive Vice President and Chief Financial Officer while serving as Interim Chief Executive Officer until a permanent successor has been named. The Board is initiating a search for a permanent Chief Executive Officer and will consider internal and external candidates.
