Nvidia co-founder Jensen Huang resigned as president, CEO, and a board member effective immediately on November 12, four days after the company opened an independent investigation into reports that a foreign intelligence operation had targeted him.
Chief Financial Officer Colette Kress will serve as interim CEO while retaining her finance responsibilities, Nvidia announced. The board will consider internal and external candidates for the permanent job.
The leadership change follows reports about Huang’s affair with a Chinese businesswoman suspected of spying for Beijing. China has denied the allegations, and Nvidia’s resignation announcement did not state a reason for his departure.
Alice Huang, a former executive at Singapore-based Megaspeed International, is the woman at the center of the allegations, the Associated Press reported. She and Jensen Huang are not related. The AP account described suspicions about her ties to the Chinese government; those allegations do not establish that she committed espionage.
Independent review
A committee of independent directors, assisted by outside independent counsel, would oversee the inquiry, Nvidia’s board said in its November 8 statement. The board said it had no reason to believe national security or company secrets had been compromised and that the review would examine all available information.
Jensen Huang acknowledged infidelity in a November 8 email to employees that Nvidia published on its website. He did not identify the other person in that message.
“I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry,” Huang wrote.
Huang also pledged to cooperate fully with the board’s investigation. His acknowledgment of infidelity did not admit espionage or the disclosure of company secrets.
Kress takes over before earnings
Kress joined Nvidia as executive vice president and CFO in September 2013. She previously held finance roles at Cisco and Microsoft, according to the transition release.
The board also appointed Harvey C. Jones as its first-ever chair. Jones previously served as CEO and executive chairman of Synopsys.
“The Board has full confidence in Colette and the leadership team, and we expect the company’s operations, customer commitments and product roadmap to continue without interruption,” Jones said in the November 12 release.
Kress said in the same release that the company would continue advancing its work in accelerated computing and artificial intelligence while serving customers, partners, developers and shareholders.
“Jensen’s contributions to NVIDIA are profound. NVIDIA is one of the most consequential technology companies in the world. The Board and the company thank Jensen for his immeasurable contributions to the company and the industry,” the company said in the statement announcing his departure.
Provided by Dallas Express
