Symbolic imageNvidia CEO Huang resigns over affairs, CFO Kress takes over as interim chief
Nvidia founder Jensen Huang resigned as CEO on Thursday after reports of two affairs, one with a woman US intelligence considers a Chinese spy. CFO Colette Kress leads the company for now.
Huang left with immediate effect on Thursday, 12 November, and also gave up his board seat. Nvidia says Kress will run the company until a permanent successor is found, and it will weigh internal and external candidates. The exit followed a message to staff on Sunday in which Huang admitted being unfaithful to his wife, widely read as an admission of a relationship with Alice Huang, a former executive at Nvidia customer Megaspeed. The board then announced an independent investigation. On Wednesday the New York Times reported a second affair, with a senior Nvidia manager who reports directly to him, citing five former employees. Bloomberg describes the departure as an ouster by the board.
Trump backs Tim Cook
Trump said on social media on Thursday that Tim Cook is the only man to succeed Huang. Cook stepped down as Apple CEO in September and is now its executive chairman. On Monday, Trump said Huang had told him he did not know the woman was allegedly a spy.
Congress presses Huang
According to FAZ, several US committees threaten subpoenas if Huang does not testify voluntarily, citing national security. Bloomberg reports that a Republican lawmaker says he has agreed to testify soon.
Shares slide
Nvidia shares fell by as much as 13 percent in early trading on Thursday, FAZ reports. Its liveblog nonetheless noted no broader market panic.