Embattled Nvidia CEO Jensen Huang steps down after affair scandal
Chief Financial Officer Colette Kress has been named interim CEO
Jensen Huang, the co-founder of AI giant Nvidia, has resigned from his roles as CEO, president, and board member following allegations of extramarital affairs, one of which involves a woman suspected of spying for China. The company's board announced his immediate departure, with CFO Colette Kress taking over as interim CEO. The board will now consider both internal and external candidates for a permanent replacement.
Huang, who holds a 3.61% stake in the company, will also step down from the board. Shares of Nvidia plummeted more than 10% in early trading, impacting the broader market. The controversy surrounding Huang, who is married, has been ongoing, with recent reports stating he had affairs with both a Chinese businesswoman and a senior Nvidia executive.
The allegations against the Chinese woman have sparked concerns about potential national security risks, with US authorities investigating both Nvidia and the company's cloud partner, Megaspeed.
Written by urgent.news from Dawn's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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