US Media Report Nvidia Board May Discuss Jensen Huang’s Future
The Wall Street Journal, citing people familiar with the matter, reported that Nvidia’s board is preparing to discuss CEO Jensen Huang’s future. A meeting could take place as early as November 11, US time. Nvidia shares fell more than 9% in after-hours trading after the report.
The board of US chipmaker Nvidia is reportedly preparing to discuss the future of CEO Jensen Huang. The Wall Street Journal, citing people familiar with the matter, reported that the board is preparing to remove him as CEO and could meet as early as November 11, US time. On the morning of November 12, Nvidia shares fell more than 9% in after-hours trading.
Minutes before that report emerged, The New York Times alleged that Huang may have had a longstanding personal relationship with Kimberly Powell, Nvidia’s vice president of healthcare. Powell, 48, joined Nvidia in 2008. The claim about their relationship remains a media allegation.
Huang has also recently become embroiled in controversy over an extramarital affair involving Alice Huang, the head of a partner company. Huang admitted to having an extramarital affair but did not name the woman involved. The claim that Alice Huang is a “Chinese spy” has also sparked controversy. China’s Foreign Ministry denied the allegation on November 9, calling it groundless speculation and an attempt to smear Beijing. The US Federal Bureau of Investigation and Nvidia have each opened separate investigations into the matter.
Huang co-founded Nvidia and has led the company for 33 years. He holds a 3.6% stake, making him its largest shareholder. Nvidia has not publicly disclosed a succession plan. In its latest shareholder filing, the company said it relies heavily on its long-serving management team and warned that the lack of an effective succession plan could affect strategy development, execution and long-term growth.
Source: VietVance
