Nvidia preparing to oust CEO Jensen Huang: WSJ
Nvidia's board is preparing to oust CEO Jensen Huang after he had two extramarital affairs, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The board is preparing to meet as soon as Wednesday to determine his future, the report added. Huang's potential departure would leave a leadership vacuum at the roughly US$4 trillion chipmaker he co-founded and built over more than three decades to become the dominant supplier of AI chips at the centre of the global artificial-intelligence boom. The company's shares slid about 8 percent in after-hours trading. Including Wednesday's after-hours selloff, Nvidia has lost about US$600 billion in stock market value this week since the board announced its investigation. "Huang being removed immediately could be challenging for Nvidia since it does not have a succession plan in place... If Mr Huang broke the law or violated company policies, the board is likely to act as soon as they have proof," Gil Luria, head of technology research at DA Davidson, said. Earlier in the day, the New York Times reported that Huang had an extramarital affair with a company executive who reported to him. The relationship was with Kimberly Powell, Nvidia's vice president of healthcare, the New York Times said,...
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