Jensen Huang resigned as Nvidia CEO after revealing his personal relationships.
Nvidia CEO Jensen Huang resigned on Thursday, November 12, following revelations of two extramarital affairs, ending his 33-year tenure at the major computer chip maker.
Nvidia's board of directors announced that Huang has resigned with immediate effect from the positions of chairman of the board, CEO and board member.
According to this statement, Colt Kress, the company's CFO, while maintaining his current responsibilities, will temporarily assume the role of CEO. Also, the board of directors is beginning to examine internal and external options for selecting a permanent CEO.
Huang was one of the founders of Nvidia and the fourth largest shareholder of this company with a share of about 3.61%.
Shares of Nvidia fell more than 10% in pre-open trading, weighing on the stock market's overall performance. In recent days, after reports were published about the extramarital affairs of the married 63-year-old Wang, the pressure for his resignation increased. It is said that this relationship was with a Chinese businesswoman who is being monitored by the American authorities on suspicion of spying for Beijing.
A source familiar with the matter told Reuters that Nvidia's board met on Wednesday to consider Hwang's dismissal. This meeting was held after reports were published that indicated he was having an extramarital affair with one of the company's executives who worked directly under his supervision.
Huang's departure leaves the $4 trillion company with an uncertain future and could disrupt the AI system he helped shape through massive investments in cloud service providers, vendors and the industry's biggest research centers.
Read the full version of this report on Radio Perda's website.