Nvidia’s CEO Jensen Huang resigns

Jensen Huang resigned as chief executive of Nvidia on Thursday, November 12, following revelations of extramarital affairs. France 24 reported that one of these affairs involved a woman accused of spying for China. KahawaTungu stated the allegations involved a senior company employee and a Singapore-based businesswoman, Alice Huang, who is suspected of links to Chinese intelligence. CBS News identified Alice Huang as a Chinese business executive whom U.S. intelligence agencies believe was a Chinese asset.

Following the resignation, Nvidia's board of directors issued a statement thanking Huang for his immeasurable contributions to the company and the industry, though the board did not address the personal conduct allegations, according to KahawaTungu. The board had previously appointed the law firm Wachtell, Lipton, Rosen & Katz to conduct an independent investigation into Huang's relationship with Alice Huang.

Colette Kress, the company's chief financial officer, will serve as interim chief executive while the board searches for a permanent successor, according to both KahawaTungu and CBS News.

The resignation has placed pressure on Nvidia’s shares. Premium Times noted investor concerns regarding corporate governance and leadership changes, while CBS News reported that shares fell 9.5% to $157.19 in early trading. CBS News also noted that the company was on track to lose more than $700 billion since the close of U.S. trading the previous week.

Brief written by urgent.news from Premium Times, France 24, KahawaTungu, CBS News — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.