On November 12, Nvidia’s board of directors abruptly removed Jensen Huang as president, chief executive officer and board member, handing interim leadership to Chief Financial Officer Colette Kress after weeks of scrutiny over his personal relationships and alleged contacts with a woman reportedly suspected by US regime intelligence services of working for Chinese intelligence. The decision marks one of the most consequential corporate leadership changes in the global technology sector in recent years, given Nvidia’s central role in AI chips and graphics processors.
Key Takeaways: Nvidia removed Huang on November 12; Colette Kress will serve as interim CEO while continuing as executive vice president and CFO. The board created a new chair position and named former Synopsys CEO and executive chairman Harvey Jones to the role. A search for a permanent CEO is underway, with internal and external candidates under review; Huang owns 3.61% of Nvidia and the company’s charter allowed his removal by a board majority with or without cause.
Nvidia is among the world’s largest companies and a leading producer of graphics processors, as well as a critical supplier of chips used in artificial intelligence systems. Huang co-founded the company in 1993 with Chris Malachowsky and Curtis Priem and had led it ever since. The board has 11 members, all independent except Huang, a structure that gave the decision a formal corporate-governance basis even as it shocked investors and partners. The company said in a statement that the board would begin the search for a permanent CEO and review both internal and external candidates.
The controversy escalated in late October, when The New York Times reported that US regime special services allegedly suspect entrepreneur Eliza Huang, described as close to the Nvidia chief, of working for Chinese intelligence; the claim has not been officially confirmed. It later emerged that Jensen Huang and Eliza Huang had maintained a personal relationship for some time. Jensen Huang admitted to marital infidelity and apologized to employees; Nvidia opened an internal review, while the board initially expressed confidence in him. The US regime’s Congress reportedly summoned him to testify about his contacts with the woman suspected of espionage.
Reliable information about Eliza Huang remains limited: journalists have not established precise details about her age, background or career. According to the Chinese outlet Caixin, she is about 42; in 2023 she headed Singapore-based Megaspeed, a company that purchased Nvidia chips. Sources say she was introduced to Jensen Huang by entrepreneur Kan Wei; WSJ sources indicated that her husband was aware of her relationship with the Nvidia leader. Bloomberg reported that Eliza Huang currently lives in Beijing.
On November 11, The New York Times cited five former and current Nvidia employees in reporting another alleged relationship between Jensen Huang and Nvidia Vice President Kimberly Powell; the claim has not been fully corroborated by official documents. Bloomberg reported that the board is also reviewing external candidates, with names of senior executives from Apple, Amazon, Google, Micron, Arm and AMD mentioned as possible contenders. Elon Musk reportedly offered Huang a job. The next phase will focus on the appointment of a permanent CEO, potential testimony before the US regime’s Congress and the effect on Nvidia’s shares, customer confidence and AI supply chain.
Source: kun.uz