Nvidia board is preparing to remove Jensen Huang as CEO, reports say
The Wall Street Journal and CBS News report that Nvidia’s board is preparing to remove Jensen Huang. The company has yet to announce a decision.
Nvidia’s board is preparing to remove co-founder Jensen Huang as chief executive, The Wall Street Journal and CBS News reported Wednesday, November 11. Nvidia has yet to announce a decision or say who would lead the company if Huang leaves. Wall Street Journal report · CBS News report
The Journal cited people familiar with the matter and reported that directors could meet as soon as Wednesday to decide Huang’s future. CBS News separately cited two sources familiar with the matter. Nvidia (Nasdaq: NVDA) closed at $173.73 at 4 p.m. Eastern, up about 2.9%, before falling in extended trading. Regular-session price · CBS News after-hours report
What Nvidia’s board has disclosed
On November 8, the board announced an investigation overseen by independent directors with outside counsel. On November 10, those directors said they had hired Joon H. Kim and his law firm, Wachtell, Lipton, Rosen & Katz, to conduct it. The board’s initial statement expressed confidence in Huang and his leadership team. November 8 board statement · November 10 board update · Earlier TrendyVest coverage
What a transition announcement would clarify
The first questions for investors are who would have authority to run Nvidia, when that would start and whether the appointment would be temporary. An interim appointment could settle who makes day-to-day decisions while the directors continue a search. A permanent appointment would also give customers and partners a point of contact for longer-term decisions, including chip supply and product delivery.
Nvidia has scheduled its fiscal third-quarter earnings call for Tuesday, November 17, at 5 p.m. Eastern. If the board makes a change, the call gives Nvidia a scheduled opportunity to explain who will oversee its next product launches and whether its operating plans have changed. Nvidia earnings schedule