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NVIDIA Chief Executive, Jensen Huang, has reportedly resigned following allegations surrounding his personal relationships with a Chinese business associate and two company employees.
The reported departure comes amid growing scrutiny of Huang’s conduct, with the company’s board having appointed law firm Wachtell, Lipton, Rosen & Katz to conduct an independent investigation into his relationship with Alice Huang, a Chinese national and NVIDIA customer.
NVIDIA had previously defended the relationship, but Huang reportedly admitted to being unfaithful to his wife, Lori, without directly addressing the allegations involving Alice Huang, Business day report.
The controversy intensified after the New York Times reported that Huang had a separate alleged relationship with Kimberly Powell, NVIDIA’s vice-president of healthcare.
The publication reported that Powell and Huang were seen displaying affection at a hotel during a company conference in March.
NVIDIA’s board had reportedly directed Huang to remain in charge while the investigation continued.
However, the company’s board statement announcing his reported departure praised his contribution to NVIDIA, describing it as one of the world’s most consequential technology companies.
The statement said Huang had stepped down as chief executive, president and board member with immediate effect.
NVIDIA’s chief financial officer Colette Kress has reportedly been named interim chief executive as the company considers a permanent successor.
The reported leadership change triggered a sharp reaction in the stock market, with NVIDIA shares initially falling 13 per cent before recovering some losses to close down 4.3 per cent.
The decline reportedly wiped more than US$180 billion off the company’s market value in one trading session.
United States President, Donald Trump, also weighed in on the leadership uncertainty, suggesting that former Apple chief executive Tim Cook should replace Huang.
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