- Two major Nvidia shareholders urge a careful CEO succession process including Huang's return
- Altimeter Capital and Atreides Management signed a letter to Nvidia's board on leadership plans
- The letter cites Jensen Huang's successful leadership and recent departure uncertainties
Two of Nvidia's major shareholders are pushing the board to weigh all their options for the succession of the next Chief Executive Officer (CEO), inclunding the potential return of Jensen Huang.
In a signed letter posted by Altimeter Capital CEO Brad Gerstner, he has urged the board to "pursue a slow, measured, and deliberate process regarding the future leadership of Nvidia." The letter is also signed by Atreides Management's Gavin Baker.
"Given the extraordinary success of Jensen Huang's leadership over a long period of time and given the massive uncertainty associated with recent events surrounding his departure, we believe it is in the best interest of all stakeholders, and certainly the shareholders of Nvidia, for the Board to pursue a slow, measured, and deliberate process regarding the future leadership of Nvidia that leaves all options on the table, including the potential return of Jensen Huang," the letter outlined.
It added that rushing to find a replacement for Huang "thwarts" and "undermines" the best interests of the stakeholders, given that there are more questions about recent events than answers.
"If after all the facts are known the Board decides that it is not in shareholders' best interest to have Jensen Huang back as CEO, that is the Board's prerogative. But the Founder and long time incredible leader of this extraordinary company has earned the right for a deliberate process that avoids any needless rush to replace him before all the facts are known," the letter stated.
Jensen Huang's Exit
Nvidia Corp. co-founder Jensen Huang resigned as president, chief executive officer and board member on Thursday, with immediate effect. The resignation followed days of mounting pressure over his admitted extramarital affair and reports that he was the target of a foreign intelligence effort.
Chief Financial Officer Colette Kress was named as the interim CEO, while keeping her role as executive vice president and CFO until the board names a permanent successor.
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