Nvidia’s Board of Directors announced that Jensen Huang has resigned as President, Chief Executive Officer and a member of the Board. The resignation is “effective immediately,” per the release.
Huang’s resignation follows a bombshell report from The New York Times that he was involved in multiple extramarital affairs, including one with Alice Huang, an alleged Chinese spy, and another with Nvidia executive Kimberly Powell.
Yahoo! Finance reports Huang is believed to have worked with a network of Chinese companies that secured $7.5 billion worth of chip sales to China. He admitted the affair in a memo to Nvidia employees, writing in part, “I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry.”
Colette Kress, Executive Vice President and Chief Financial Officer of Nvidia, will take on the role of Interim Chief Executive Officer, per the Board of Directors’ announcement.
Nvidia stock dropped 10% on the news of Huang stepping down.
Nvidia’s Board of Directors announced that Jensen Huang has resigned as President, Chief Executive Officer and a member of the Board. The resignation is “effective immediately,” per the release.
Huang’s resignation follows a bombshell report from The New York Times that he was involved in multiple extramarital affairs, including one with Alice Huang, an alleged Chinese spy, and another with Nvidia executive Kimberly Powell.
Yahoo! Finance reports Huang is believed to have worked with a network of Chinese companies that secured $7.5 billion worth of chip sales to China. He admitted the affair in a memo to Nvidia employees, writing in part, “I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry.”
Colette Kress, Executive Vice President and Chief Financial Officer of Nvidia, will take on the role of Interim Chief Executive Officer, per the Board of Directors’ announcement.
Nvidia stock dropped 10% on the news of Huang stepping down.
