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Nvidia Board Announces Jensen Huang Resignation, Names Colette Kress Interim CEO
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Jensen Huang resigns as Nvidia CEO effective immediately. Colette Kress named interim CEO by Nvidia board.
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Huang quits Nvidia
Nvidia’s board announced Thursday that Jensen Huang resigned as President, Chief Executive Officer, and a member of the Board, effective immediately, and the company named Colette Kress as interim chief executive. Nvidia’s board said it had “full confidence in Colette and the leadership team,” and it expected “the company’s operations, customer commitments and product roadmap to continue without interruption,” while Harvey Jones was announced as the company’s first board chair. Nvidia’s board said it was conducting an investigation after revelations that Huang had an affair with Alice Huang, a former executive at Megaspeed International suspected of being a Chinese government agent, and the company said it had “no reason to believe” national security or its secrets were compromised.
“Jensen Huang has resigned as President, Chief Executive Officer, and a member of the Board, effective immediately.”
The AP reported that shares of Nvidia plunged 10% in premarket trading Thursday, and the company was due to report earnings Tuesday. The scandal also followed media reports that Huang had another extramarital affair with an Nvidia employee who reports to him, and the AP said Huang’s future remained uncertain amid reports of a board meeting to discuss his position.
Spy allegations and lawmakers
President Donald Trump said this week the FBI is investigating romantic and business ties between Huang and suspected Chinese spy Alice Huang, and the two were described as not related.
CBS News reported that the New York Times said five employees at Nvidia came forward alleging Huang was romantically involved with Kimberly Powell, Nvidia’s vice president of healthcare, and CBS News added that the Times has not seen the video and CBS News has not verified the report.
NBC News said U.S. intelligence agencies determined that Alice Huang had an affair with the Nvidia CEO and was a Chinese intelligence operative, and it said Megaspeed is under U.S. criminal investigation for allegedly smuggling American-made chips into China in defiance of U.S. export controls.
Rep. Brian Mast, chairman of the House Committee on Foreign Affairs, said the committee was in contact with Huang’s team as recently as Wednesday night after putting in an initial request for an interview on Nov. 5, and Mast said Huang would receive a subpoena to compel his appearance, if necessary.
NPR said Huang’s departure would likely be the subject of an investigation when Democrats take control of Congress in January, and it quoted Rep. Yvette Clarke saying, “We should all be extremely concerned about this, and the fact that the White House knew about this for weeks, maybe months now, is is is very disturbing as well,” in an interview with NPR.
Megaspeed cooperation and next
Megaspeed said Thursday it will cooperate with U.S. government investigations, and it said it takes its obligation to comply with U.S. export control laws “extremely seriously.” NBC News reported that Singapore barred Alice Huang from re-entering the country and issued her with a stern warning after finding that she had knowingly provided police with inaccurate information to downplay her role in the company. NBC News said investigators concluded in February there was “insufficient evidence to establish that Huang had committed any offences,” while investigations into Megaspeed and six other individuals were continuing, related to the shipment of servers via Singapore.
“Megaspeed said Thursday it will cooperate with U.S. government investigations.”
Nvidia’s board said it would conduct a search for a permanent CEO and consider internal and external candidates, and it named Colette Kress as interim CEO while she continued as CFO. AP News said the company’s board gathered to discuss Huang’s future after revelations about his affair with Alice Huang, and it said U.S. lawmakers were still insisting on questioning him about his interactions with Alice Huang and the company’s security protocols against espionage.