Nvidia board weighs ousting CEO Jensen Huang amid scandal
Nvidia's board has convened to weigh replacing long-serving CEO Jensen Huang following revelations of two extramarital affairs, triggering sharp declines in company shares and U.S. stock futures.
The Wall Street Journal reported that Nvidia's board is preparing to remove co-founder and Chief Executive Officer Jensen Huang following revelations regarding two extramarital relationships. The scandal centers on Huang's relationship with a woman suspected by U.S. intelligence of ties to Chinese espionage, as well as a separate affair reported by The New York Times involving Kimberly Powell, Nvidia's vice president of healthcare, who reported directly to him.[3][6][14][15]
Directors met to discuss Huang's future and engaged an outside firm to explore potential replacements, according to Bloomberg. The board is also weighing appointing an interim chief, with several directors favoring Chief Financial Officer Colette Kress for the temporary post, according to Semafor. Other potential candidates under consideration reported by Bloomberg include CUDA engineer Ian Buck, Arm CEO Rene Haas, and Apple hardware chief Johny Srouji.[4][5][7][9]
Huang, who has led Nvidia for 33 years, previously apologized in an internal letter for being unfaithful and betraying employee trust, though no formal dismissal has been officially announced. The crisis shook financial markets: Nvidia shares tumbled in extended trading, credit-default protection costs increased, and Bloomberg reported that Nvidia's drop made up more than half of the retreat in Nasdaq 100 futures contracts.[2][10][11][12]
Key facts
- The Wall Street Journal reported Nvidia's board is preparing to oust CEO Jensen Huang after revelations of two extramarital affairs.
- The allegations involve a woman suspected by U.S. intelligence of ties to Chinese espionage and Nvidia healthcare vice president Kimberly Powell.
- Nvidia is working with an external firm to explore replacement candidates and considering a temporary CEO, according to Bloomberg.
- Semafor reported that some board members favor Nvidia CFO Colette Kress to serve as interim CEO if Huang is removed.
- Other potential successor candidates named by Bloomberg include Ian Buck, Arm CEO Rene Haas, and Apple hardware chief Johny Srouji.
- Nvidia's drop accounted for over half of the decline in Nasdaq 100 futures contracts, according to Bloomberg.
Sources · 10 sources
- TW
The Washington Post@washingtonpostPost on X ·
Breaking news: The board of Nvidia will meet to weigh on a potential ouster of its embattled chief executive Jensen Huang, days after he admitted to an affair with an alleged Chinese spy and following reports he had a second extramarital affair. https://t.co/GdUmy1X23n
Open source - BL
Bloomberg@businessPost on X ·
The cost of protecting Nvidia’s debt against default rose Thursday as the chip company’s board met to decide the fate of CEO Jensen Huang https://t.co/eUwCp7b7Or
Open source - TW
The Wall Street Journal@WSJPost on X ·
Breaking: Nvidia’s board is preparing to oust CEO Jensen Huang, its founder and chief executive after he had two extramarital affairs, including one with a suspected Chinese spy. https://t.co/Pjsu5j87CF https://t.co/7juwwhYNyN
Open source - BL
Bloomberg@businessPost on X ·
Nvidia CFO Colette Kress is favored to replace CEO Jensen Huang as the board meets to decide his fate. Follow the latest updates. https://t.co/9DkbCqS4uZ
Open source - TE
TechmemeArticle ·
Sources: some Nvidia board members favor naming CFO Colette Kress interim CEO; an administration official says the board briefed the White House on its meeting (Semafor) Semafor : Sources: some Nvidia board members favor naming CFO Colette Kress interim CEO; an administration official says the board briefed the White House on its meeting — Some members of Nvidia's board favor appointing Chief Financial Officer Colette Kress as interim CEO, according to people familiar with the matter.
Open source - CH
Chubby♨️@kimmonismusPost on X ·
Looks like it’s over for Jensen Huang. A bitter day for all of us. Via WSJ https://t.co/BqubaQZc9b
Open source - TE
Techmeme@TechmemePost on X ·
A look at potential Nvidia CEO candidates, including CFO Colette Kress, CUDA inventor Ian Buck, Arm CEO Rene Haas, and Apple Chief Hardware Officer Johny Srouji (Bloomberg) (Visit Techmeme dot com for the link and full context!)
Open source - TE
TechmemeArticle ·
A look at potential Nvidia CEO candidates, including CUDA inventor Ian Buck, Arm CEO Rene Haas, and Apple Chief Hardware Officer Johny Srouji (Bloomberg) Bloomberg : A look at potential Nvidia CEO candidates, including CUDA inventor Ian Buck, Arm CEO Rene Haas, and Apple Chief Hardware Officer Johny Srouji — Nvidia Corp. is searching for a replacement for larger-than-life Chief Executive Officer Jensen Huang, a daunting challenge at the world's most valuable chipmaker.
Open source - TE
TechmemeArticle ·
Source: Nvidia's board is working with an outside firm to identify possible replacements for Jensen Huang and weighs naming a temporary CEO during the search (Bloomberg) Bloomberg : Source: Nvidia's board is working with an outside firm to identify possible replacements for Jensen Huang and weighs naming a temporary CEO during the search — Nvidia Corp.'s board has been working with an outside firm to identify potential replacements for Chief Executive Officer Jensen …
Open source - MA
MarketWatch@MarketWatchPost on X ·
Nasdaq futures slump as Nvidia weighs Jensen Huang fate: live updates https://t.co/x5GoLDgiS1
Open source - WB
Wu Blockchain@WuBlockchainPost on X ·
Nvidia Board Preparing to Oust CEO Jensen Huang, Shares Fall as Much as 8% After Hours According to The Wall Street Journal, Nvidia's board is preparing to remove co-founder and CEO Jensen Huang, with directors potentially meeting as early as November 11 to decide his future. The move follows reports that Huang had extramarital relationships with two women, including Alice Huang, an executive at Singapore-based data company Megaspeed, a major Nvidia customer. Nvidia's board has launched an investigation into the matter. On November 8, Huang acknowledged being unfaithful to his wife in a letter to employees and apologized for betraying their trust. No final decision on his position has been announced. Nvidia shares fell as much as 8% in after-hours trading following the report.
Open source - BL
Bloomberg@businessPost on X ·
US stock index futures slid as Nvidia considers replacing CEO Jensen Huang, with the AI chipmaker’s drop making up over half of the Nasdaq 100 contracts’ declines https://t.co/f0eTSXleBK
Open source - BL
Bloomberg@businessPost on X ·
Nvidia is working with an external firm to explore potential replacements for Jensen Huang, after the WSJ reported the board is preparing to oust CEO. Follow our live blog for the latest updates ⤵️ https://t.co/YaM6MXtwtK
Open source - SO
SolanaFloor@SolanaFloorPost on X ·
NEW: @Nvidia’s board is reportedly considering removing CEO @JensenHuang following allegations of affairs with company VP Kimberly Powell and a businesswoman suspected by US intelligence of ties to Chinese espionage. https://t.co/5BK9qNL0rI
Open source - WS
Wall St Engine@wallstenginePost on X ·
$NVDA BOARD PREPARING TO OUST CEO JENSEN HUANG: WSJ The board could meet today over his reported affairs, including one with a suspected Chinese spy. NYT reports Huang also had a relationship with healthcare VP Kimberly Powell, who reports to him. Nvidia declined to comment. https://t.co/SZ1goCNRwb
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