Abstract:
On November 12, according to the "Washington Post" report, Nvidia's board of directors plans to evaluate whether co-founder and CEO Huang Jensen will continue to run the company. Despite Huang's close relationship with U.S. President Trump,
people familiar with the matter said the White House will not interfere with Nvidia's board of directors' decisions
.
The report quoted a U.S. government official and another person familiar with the matter as saying that Nvidia’s board of directors will hold a meeting to discuss Huang’s future. The two requested anonymity because the information has not been made public. Affected by the board meeting and Huang Jensen-related reports, Nvidia's stock price fell by about 8% in after-hours trading.
The Wall Street Journal previously quoted people familiar with the matter as saying that Nvidia’s board of directors is considering dismissing Huang Jen-Hsun as CEO and may convene a meeting as soon as possible to make a decision. Reuters said it could not independently verify the news, and Nvidia did not respond at the time.
Nvidia’s board of directors announced on November 8 the launch of an independent investigation to review reports that Huang Renxun may be a target of foreign intelligence activities. The board of directors stated that there is currently no reason to believe that U.S. national security or Nvidia’s trade secrets have been compromised, and that Huang will cooperate with the investigation. The board of directors still expressed its trust in him and his management team at the time.
Two days later, Nvidia’s independent directors hired Joon H. Kim, the former acting federal prosecutor for the Southern District of New York, and the law firm Wachtell, Lipton, Rosen & Katz to investigate. Huang Renxun is still serving as Nvidia CEO, and the company has not yet announced management adjustments or interim CEO candidates.
Trump previously stated that he had spoken to Huang Renxun and believed that Huang Renxun did not know in advance that the woman in question was suspected of engaging in intelligence activities by US intelligence agents. However, information disclosed by the "Washington Post" shows that the White House will not intervene in Nvidia's internal decision-making on the CEO's resignation.
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