Nvidia Board Prepares to Oust CEO Jensen Huang as Report of Second Alleged Affair Emerges: WSJ
The board is weighing an emergency ouster as stock falls and lawmakers press for a closed-door briefing on national-security concerns.
- Nvidia's board launched an investigation into CEO Jensen Huang on Sunday after he admitted to an extramarital affair with a businessperson whom U.S. intelligence identified as a Chinese spy.
- On Monday, November 9, Nvidia shares closed down 4.27% as investors reacted to the scandal, erasing roughly $190 billion to $200 billion in market value amid key-person risk concerns.
- A shareholder lawsuit filed Monday in the U.S. District Court for the Northern District of California accuses Nvidia of misleading investors, while the company lacks a public succession plan for Huang.
- President Donald Trump expressed support for Huang on Monday, stating he believes the executive will be 'in good shape,' while the board retained law firm Wachtell, Lipton, Rosen & Katz for the investigation.
- Huang manages over 60 direct reports and sets strategy, making him exceptionally difficult to replace; most analysts do not expect the investigation to end his tenure at the company.
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Nvidia's board met to decide whether to dismiss Jensen Huang after reports of two extramarital relationships.The action falls about 7%.
Nvidia Stock Plunges Over 10% as Board Weighs Removing CEO Jensen Huang
Nvidia (NASDAQ: NVDA) shares plunged more than 10% to $155.57 in Thursday's premarket trading after reports emerged that its board was considering removing co-founder and CEO Jensen Huang, even though the board had publicly expressed support for his leadership just days earlier. The Wall Street Journal reported that directors were preparing to remove Huang amid reports of two extramarital relationships.Visit Website
Nvidia Board Moves to Oust CEO Jensen Huang Over Affairs
Nvidia’s board is preparing to remove CEO Jensen Huang amid allegations of a second extramarital affair with a subordinate, heightening leadership concerns at the AI giant. Breitbart News reported that five people who worked at Nvidia described an extramarital relationship between Huang and Kimberly Powell, the company’s vice president of health care. Powell reports directly […]
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