Nvidia appoints interim chief executive as Jensen Huang resigns
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Nvidia has begun looking for a new chief executive as co-founder Jensen Huang resigns following reports of two extramarital affairs, including one with a Chinese businesswoman whom US authorities suspect of spying for Beijing.
Key facts
Chief financial officer Colette Kress will lead the company temporarily, according to its announcement on Thursday (November 12)
Nvidia’s share price fell by more than 12% shortly after trading began, leaving the total value of its shares heading for a drop of about US$500 billion
The change leaves the roughly US$4 trillion company facing uncertainty
Huang owns about 3.61% of the business, placing him fourth among its shareholders.
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Summary
Chief financial officer Colette Kress will lead the company temporarily, according to its announcement on Thursday (November 12). The search for a permanent replacement will cover candidates already working at Nvidia and those outside the business.
Nvidia has also appointed its first board chair, choosing director Harvey Jones, who previously led Synopsys as chief executive. Huang is leaving the board as well.