Nvidia CEO Jensen Huang resigns after affair reports; stock falls 4.3%

qz.com —

Nvidia CEO Jensen Huang resigned Thursday after reports of two extramarital affairs, sending the chipmaker's stock down 4.3% and extending its losing streak to six weeks, with about $1.6 trillion in market value erased. The stock is down 29% over that period, its longest weekly decline since 2012, and has fallen below Apple in market value. CFO Colette Kress is interim CEO while the board searches for a permanent successor, with earnings due Nov. 17. Huang, 63, co-founded Nvidia in 1993 and also left the board. One affair involved a former executive suspected by U.S. intelligence of being a Beijing agent, though the board found no security risk, and China dismissed the allegation.


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Nvidia CEO Jensen Huang resigns after affair reports; stock falls 4.3% | News Minimalist