img#mv-trellis-img-1::before{padding-top:100%; }img#mv-trellis-img-1{display:block;}Reading Time: 2 minutes
Jensen Huang has resigned as CEO of Nvidia, the tech giant’s board of directors announced on Thursday, November 12.
The co-founder’s exit follows weeks of scandal over his personal life, which reportedly included several affairs, one of them with a woman alleged to be a Chinese spy, according to Variety.
Huang stepped down following a meeting of Nvidia’s board, and the company released a statement confirming his resignation shortly afterward.
Chief Financial Officer Colette Kress will serve as interim chief executive while Nvidia searches for a permanent replacement.
The departure brings an abrupt end to a 33-year run at the top of the company Huang helped build into one of the most valuable businesses in the world.
It also caps a stretch that hit Nvidia hard on Wall Street. The saga reportedly sent the company’s stock price tumbling to eight-month lows, driven by national security concerns tied to the alleged spy.
The affair at the center of the story has been described as extramarital, and it may not have been the only one.
Reports of a second affair have also surfaced in recent weeks, adding to the pressure on the billionaire executive as the scandal grew.
The woman linked to Huang has been characterized in some reports as a Chinese government spy.
Sources claim she was working on behalf of the Chinese government, a detail that quickly raised alarms given Nvidia’s place in the chip industry.
Still, the national security angle is what turned a personal scandal into a corporate crisis. Nvidia is one of the most important chip makers on the planet, and investors clearly did not like what they were hearing.
Huang’s resignation now leaves the company’s future direction in the hands of the board and Kress, at least for the time being.
For a founder who spent more than three decades as the face of Nvidia, it’s a stunning way to go out. Some observers say the alleged affairs now cast a long shadow over his legacy at the company.
Huang was widely regarded as one of the most powerful figures in tech, overseeing Nvidia’s rise into a dominant force in the industry.
Now the company is moving on without him, and the board’s hunt for a permanent CEO is officially underway.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: thehollywoodgossip.com
