Shares of Nvidia plunged 14.24% in pre-market trade to $ 148.99 in pre-market trade on Thursday, amid the announcement of chief executive officer (CEO) Jensen Huang's resignation. The AI chip company named chief financial officer Colette Kress as the interim CEO.
Huang's resignation and the continued downturn of the firm's stock follows the reports of his affiar with Alice Huang, an alleged to be a spy for the Chinese government as per US authorities, with Jensen Huang confirming the infidelity.
The board has initiated the search for a permanent Chief Executive Officer and will evaluate both internal and external candidates, the chipmaker said in a statement on Thursday.
The company also appointed Harvey C. Jones as its first-ever Chairman of the Board. Jones brings more than three decades of experience as an entrepreneur, technology executive and venture investor, and previously served as CEO and Executive Chairman of Synopsys.
Colette has helped lead NVIDIA through a period of extraordinary growth and has a deep understanding of our business, customers, operations and financial position,” Jones said. He added that the board expects operations, customer commitments and the product roadmap “to continue without interruption.”
(This is a developing story.)
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