Abstract:
After two extramarital affairs were exposed, Huang Renxun has resigned. Nvidia said on Thursday that Chief Financial Officer Colette Kress agreed to serve as interim CEO until a formal successor is determined. The board of directors has launched a search for the next CEO, which will consider both internal talent and external candidates.
This personnel change stems from the company's internal investigation into extramarital affairs
This decision brings an era to an end. Under the leadership of Huang Renxun, the global artificial intelligence industry has ushered in vigorous development, and he himself has become a well-known figure with geographical influence. Today, this company, one of the world's most valuable companies, is in urgent need of a new leader.
As the co-founder of Nvidia, many people regard Jen-Hsun Huang as a representative figure in the AI arms race. His iconic leather jacket image is deeply rooted in the hearts of the people, and he frequently attends various industry conferences around the world. He has the confidence of a seller, and the products in his hands just meet the needs of the times. NVIDIA graphics processors, which are high-performance computing chips integrating billions of transistors, are considered by many to be the core hardware of the new industrial revolution.
Nvidia is vital to many customers around the world, and Huang has become an internationally renowned figure. He regularly meets with top officials from the United States and other countries, and when he visits the global manufacturing centers of the chip industry, he is often surrounded by throngs of admirers.
On Sunday, Huang admitted in a letter to all employees that he had been unfaithful to his wife and apologized for betraying the trust of his family and employees.
According to people familiar with the matter, Nvidia CEO Jensen Huang also had an extramarital affair with company executive Kimberly Powell, who is in charge of Nvidia's medical and health business. The New York Times earlier reported the second affair, and Powell did not respond to media requests for comment.
Nvidia shares fell nearly 8% in pre-market trading Thursday. After the news that the board of directors launched an investigation into related incidents was exposed, the stock price was already on a downward channel. Huang, 63, is Nvidia's largest shareholder, holding about 3.6% of the company's shares and ranking among the world's richest people.
About 60 people report directly to Huang. Huang Renxun has previously expressed the importance of succession planning and believes that business managers should continue to share knowledge and information. It is not yet clear who will be his successor.
Nvidia’s latest agency document reminds that the company is “highly dependent on the existing core management team”; if effective succession planning cannot be done, it may “hinder the company’s strategy formulation, strategy implementation and long-term development.”
President Trump has previously developed a close working relationship with the Nvidia CEO. Earlier this week, Trump publicly expressed support for Huang, calling him a "very good person" with "good character."
Huang Jen-Hsun's personal charm and his discussion of the AI wave's ability to boost the economy impressed Trump deeply and made Huang a frequent visitor to the White House.
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