From TechCrunch · Amanda Silberling · · 1m 10s
Nvidia board moves to oust CEO Jensen Huang
Nvidia's board is reportedly preparing to remove co-founder Jensen Huang as CEO after he admitted to affairs, one allegedly with a Chinese spy.
In brief
Nvidia's board is reportedly preparing to remove co-founder Jensen Huang as CEO after he admitted to affairs, one allegedly with a Chinese spy. Nvidia's board is reportedly preparing to remove CEO Jensen Huang after he admitted to affairs, causing the stock to fall eight percent in after-hours trading. Originally…
Nvidia board plans to remove Huang
Nvidia's board is reportedly meeting as soon as Wednesday to determine the future of co-founder and CEO Jensen Huang, who has led the company for the last thirty-three years.
Huang admits to affairs amid scandal
On Sunday, Huang admitted to having an extramarital affair with a woman purported by U.S.intelligence to be a Chinese spy.
Nvidia stock falls sharply
Nvidia stock fell about eight percent in after-hours trading on Wednesday. The stock is down about eleven percent in the past five days.
Company seeks outside help for succession
Huang has about sixty direct reports and has famously delegated very little. Nvidia has not had an obvious successor or succession plan, but is now working with an outside firm to identify potential CEO candidates.
The key point
Nvidia's board is reportedly preparing to remove CEO Jensen Huang after he admitted to affairs, causing the stock to fall eight percent in after-hours trading.
