Nvidia's 11-member board has launched an independent investigation into whether CEO Jensen Huang was compromised by foreign intelligence following his admission of infidelity. Directors are collaborating with an external firm to assess internal successors, including Chief Financial Officer Colette Kress and engineer Ian Buck. Because Huang controls only about 3.6 percent of company shares, the independent board members have the power to dismiss him with or without cause.
Key points
Jensen Huang lacks majority voting control due to his roughly 3.6 percent ownership stake…: Jensen Huang lacks majority voting control due to his roughly 3.6 percent ownership stake in the chipmaker.
Potential internal candidates being considered for the chief executive role include Colet…: Potential internal candidates being considered for the chief executive role include Colette Kress and Ian Buck.
Company shares fell over 8 percent in after-hours trading amid reports of the board prepa…: Company shares fell over 8 percent in after-hours trading amid reports of the board preparing for Huang's removal.
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CEO of chip maker is under scrutiny after reports of affairs, including a relationship with an alleged Chinese spy.
Jensen Huang may be ousted as the CEO of Nvidia after the tech giant lost more than $600bn in market value this week, following reports that he had extramarital affairs with two women, including a businesswoman accused of spying for China.
Nvidia’s board of directors met late on Wednesday to decide whether to remove Huang, who cofounded the $4.2 trillion company, which supplies most of the chips used for advanced artificial intelligence (AI).
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