The Wall Street Journal reports that Nvidia is reportedly planning to oust its co-founder and CEO Jensen Huang, who has led the company for the last 33 years. Sources told the newspaper that the Nvidia board is meeting as soon as Wednesday to determine Huang’s future at the company. This decision follows Sunday admissions from Huang regarding an extramarital affair with a woman purported by U.S. intelligence to be a Chinese spy. Later reporting from the New York Times indicated he also had an affair with an executive who reports directly to him.
Nvidia has become one of the most valuable companies in the world as it designs the chips that power the AI boom. In the midst of Huang’s ongoing scandal, Nvidia stock fell about 8% in after hours trading on Wednesday. The stock is down about 11% in the past five days. Huang famously delegates very little and has about 60 direct reports, he has said. The company also has not had an obvious successor or a succession plan.
* Stock fell 8% in after hours trading on Wednesday
* Huang has about 60 direct reports and delegates little
* No obvious successor or succession plan exists
