Nvidia board reportedly meeting to decide CEO Jensen Huang’s future as chip giant’s share price plunges – follow live
Summary
Reuters reported that Nvidia’s board was meeting to consider whether to remove CEO Jensen Huang, as the company faces reports about two extramarital affairs involving him. Nvidia shares fell more than 8% in after-hours trading, and the company had lost about $600 billion in market value that week amid the controversy.Key Facts
- A source familiar with the matter told Reuters that Nvidia’s board was meeting to decide Huang’s future.
- The Wall Street Journal reported that Nvidia was preparing to oust Huang.
- The New York Times reported that Huang had an affair with a company executive who reported to him.
- Huang acknowledged being unfaithful to his wife in a Sunday memo to employees and said he took full responsibility.
- The board had announced an investigation into Huang’s relationship with a Chinese businesswoman.
- Nvidia shares fell more than 8% in after-hours trading after the reports.
- Nvidia lost about $600 billion in stock market value that week, according to the article.
- Huang owns about 3.6% of Nvidia and has no obvious successor, according to the article.
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