Abstract:
On November 15, according to CNBC, Nvidia’s two major shareholders called on the board of directors to consider all possible options for the company’s future leadership, including “the possibility of Jen-Hsun Huang’s return.” Brad Gerstner, CEO of Altimeter Capital, an American technology investment company, published an open letter on The letter was also signed in support by Gavin Baker, founder of US investment management company Atreides Management.
AltimeterCEO Gerstner
According to Altimeter Capital’s latest filing with the U.S. Securities and Exchange Commission, NVIDIA is their largest stock holding. As of June 30 this year, Altimeter Capital held 9.4 million Nvidia shares, worth nearly $1.9 billion. As of the end of June, Atreides held 1.2 million Nvidia shares, worth nearly $250 million.
Open letter
The open letter stated that Nvidia’s board of directors should not rush to find candidates to replace Huang Jensen, so as not to damage and violate the best interests of shareholders. During this period, Nvidia's interim CEO Colette Kress and her team have the ability to lead the company well, and the board of directors has sufficient time to properly handle this matter.
"If, after all the facts have been established, the Board determines that bringing Jen-Hsun Huang back as CEO is not in the best interest of shareholders, then that is within the Board's purview. But the founder, long-time and extremely talented leader of this remarkable company deserves a prudent decision-making process to avoid any unnecessary hasty replacement before all the facts have been established," the open letter stated.
Nvidia founder Jensen Huang resigned on Thursday amid multiple accusations of extramarital affairs. CFO Kress, who has been with Nvidia for 13 years, was appointed interim CEO.
SpaceX CEO Musk said on X on Friday that he had signed a petition calling for Huang to be reinstated. A petition called "Stand with Jensen" is circulating online and claims to have received more than 100,000 signatures, including more than 5,000 current Nvidia employees.
Musk said on X on Saturday that without Huang, some of the company's "key deals would be lost."
Comments