Key Takeaways
- • Nvidia Corp. Chief Executive Officer Jensen Huang was ousted by the board after reports of two affairs, including one with a woman suspected of spying for China, according to Bloomberg Law News.
- • CFO Colette Kress was named interim CEO, while the board appointed Harvey Jones, 73, to the top role.
- • Jones, a longtime board member who formerly led Synopsys Inc., is tied to a company in which Nvidia took a $2 billion stake last year.
- • Nvidia shares fell more than 10% in premarket trading following the announcement.
Summary
Nvidia Corp. Chief Executive Officer Jensen Huang, widely regarded as the preeminent face of the AI infrastructure boom, was removed from his post by the company's board, according to Bloomberg Law News. The removal followed reports of two affairs, including one with a woman who is suspected of spying for China.
Chief Financial Officer Colette Kress was named interim CEO. The board, which has never previously had a chair, appointed Harvey Jones, 73, to the role. Jones has served on the board for several years and formerly led Synopsys Inc., a company that Nvidia took a $2 billion stake in last year.
Nvidia shares fell more than 10% in premarket trading on the news. The article notes that the company issued a statement, though the excerpt available for this summary does not include its full text. Further details on the board's reasoning and the company's formal response were not available in the source material reviewed.
Chief Financial Officer Colette Kress was named interim CEO. The board, which has never previously had a chair, appointed Harvey Jones, 73, to the role. Jones has served on the board for several years and formerly led Synopsys Inc., a company that Nvidia took a $2 billion stake in last year.
Nvidia shares fell more than 10% in premarket trading on the news. The article notes that the company issued a statement, though the excerpt available for this summary does not include its full text. Further details on the board's reasoning and the company's formal response were not available in the source material reviewed.
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