Nvidia Board Weighs Jensen Huang's Removal; Successor Unclear

The Wall Street Journal reported Wednesday that Nvidia's board is preparing to remove CEO Jensen Huang, citing sources close to the matter, though Nvidia has not confirmed the report. As of Thursday morning, the company had made no official announcement regarding Huang's future. The reports follow Huang's November 8 admission to staff of infidelity toward his wife, and a New York Times report alleging a separate relationship with Nvidia vice president Kimberly Powell. Nvidia shares fell 7% in after-hours trading Wednesday, and the board has not named a successor, with CFO Colette Kress mentioned by analysts as a possible interim option. The board, which unusually has no chairman, has only confirmed an investigation into foreign intelligence operations targeting Huang, not any employment changes. Huang holds 3.58% of Nvidia shares but lacks the special voting rights that would let him control the board.