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Nvidia's board met Wednesday to discuss whether to remove CEO Jensen Huang following reports of two extramarital affairs, one involving an executive at cloud firm Megaspeed whom U.S. intelligence officials reportedly believe is tied to Chinese espionage, and another with an Nvidia vice president who reports to him. Nvidia's stock fell 8.1% in premarket trading Thursday, while rivals AMD and Broadcom gained.
Nvidia's board announced that Jensen Huang has stepped down immediately as President, CEO and board member, following reports of two extramarital affairs, one involving a woman U.S. officials suspect of ties to Chinese intelligence. CFO Colette Kress will serve as interim CEO while retaining her finance role, as the board searches for a permanent successor among internal and external candidates.
Nvidia CEO Jensen Huang has acknowledged an extramarital affair, reportedly with Megaspeed executive Alice Huang, whom U.S. officials suspect of being a Chinese spy. The New York Times also reported a separate relationship between Huang and Nvidia VP Kimberly Powell, who reports to him directly, while the Wall Street Journal reported that Nvidia's board is preparing to remove Huang as CEO.
The Wall Street Journal reports that Nvidia's board is considering removing CEO Jensen Huang following disclosure of two extramarital relationships, one involving an executive who reports to him and another with a woman US intelligence suspects of ties to Chinese intelligence. Nvidia's board launched an independent investigation on November 8 and could meet as soon as November 11 to decide Huang's fate; shares fell 8% in after-hours trading after the reports.
Nvidia's board, which had voiced confidence in CEO Jensen Huang on Sunday, is reportedly preparing to remove him following a second disclosed extramarital relationship, this time with Kimberly Powell, the company's VP of healthcare who reports to him. The Wall Street Journal and Reuters reported that directors planned to meet as soon as Wednesday evening, and Nvidia shares fell about 8% in after-hours trading. The first affair, involving Megaspeed executive Alice Huang, had already triggered a board investigation over national-security concerns tied to US intelligence suspicions about her.
The New York Times reports that Nvidia CEO Jensen Huang is suspected of a second extramarital affair, this time with Kimberly Powell, the company's vice president of healthcare and one of his direct reports. Five employees told the Times that the two were seen being affectionate at a San Jose hotel during a conference this year; both Huang and Powell are married. Nvidia's board is already investigating a separate, previously admitted affair involving Huang and a woman accused of being a Chinese spy.
Nvidia's board plans an urgent meeting to discuss CEO Jensen Huang after reports surfaced that he had a romantic relationship with Kimberly Powell, the company's vice-president of healthcare. This follows an earlier disclosure that Huang had an affair with Alice Huang, an executive at an Nvidia customer whom US intelligence believes was recruited by China's Ministry of State Security. Nvidia shares fell more than 8 percent after the reports, and the board has hired a former federal prosecutor to investigate, though it previously backed Huang to stay on as CEO.
The New York Times reports Nvidia CEO Jensen Huang had an extramarital relationship with Kimberly Powell, the company's vice president of health care, who reports directly to him. Sources told the Times the two were seen being affectionate at a San Jose hotel during an Nvidia conference in March, and that a bystander who filmed the moment was approached by Huang's security team and offered a nondisclosure agreement.
Nvidia shares dropped more than 7% in after-hours trading after The Wall Street Journal reported the company's board is preparing to remove CEO Jensen Huang. The report followed a New York Times account alleging Huang had an extramarital relationship with Nvidia healthcare VP Kimberly Powell, including being filmed together at a San Jose hotel in March. This follows earlier reports that Huang admitted to a separate relationship with a woman U.S. intelligence officials reportedly suspect of being a Chinese spy.
The New York Times reports, citing five anonymous Nvidia sources, that CEO Jensen Huang had a relationship with Kimberly Powell, Nvidia's vice president of health care, who reported to him. The sources allege the two were filmed being affectionate in March at a San Jose hotel during Nvidia's GTC conference, and that Huang's security team pressured the person who filmed it to sign a nondisclosure agreement. Nvidia has not responded to requests for comment, and the report follows Huang's earlier admitted affair with a woman U.S. intelligence suspects of spying for China.
Nvidia's board is reportedly preparing to meet to decide Jensen Huang's future as CEO, according to the Wall Street Journal, following a New York Times report alleging a second extramarital affair involving Huang and Nvidia VP of health care Kimberly Powell. The news comes days after Huang admitted to a separate affair with a woman reportedly linked to Chinese intelligence, prompting Nvidia to hire outside counsel to investigate.