🔴 Nvidia CEO Jensen Huang to step down after affair
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Summary
Nvidia said CEO Jensen Huang resigned on Thursday, ending his 33-year tenure, and named CFO Colette Kress interim CEO while the board searches for a successor. The announcement followed reports of Huang’s affairs and allegations that one woman involved had ties to Chinese intelligence; Beijing rejected the spying allegations.Key Facts
- Huang also left Nvidia’s board, and the company did not state a reason for his departure.
- Nvidia appointed former Synopsys CEO Harvey Jones as its first chair.
- The company said its operations, customer commitments, and product plans were expected to continue without interruption.
- Nvidia shares fell more than 10 percent in premarket trading after the announcement, according to the article.
- The article says U.S. intelligence reportedly circulated a memo alleging Alice Huang was an asset of China’s Ministry of State Security.
- Nvidia’s board had announced an investigation into reports that Huang was targeted by a foreign intelligence effort.
- Nvidia shareholders filed a class action lawsuit alleging Huang and the company failed to disclose information about his relationship to investors.
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