Nvidia board considers successors as CEO Jensen Huang faces scrutiny
Internal candidates Colette Kress and Ian Buck have emerged as potential leaders if the current chief executive exits.
The Nvidia board met on Wednesday to decide whether to oust CEO Jensen Huang, according to a report by the Times of India. The meeting comes as the company faces scrutiny regarding reports of two alleged extramarital relationships involving Huang, whom he admitted in a letter to employees on Sunday.
Internal candidates for the leadership role include Chief Financial Officer (CFO) Colette Kress and engineer Ian Buck. Kress, who has been with the company for more than a decade, is viewed as a candidate for an interim role to provide continuity, while Buck is seen as a possible long-term choice due to his technical expertise.
Buck, who joined Nvidia in 2004, currently manages AI hardware and software products as head of product for hyperscale AI. He played a key role in developing the CUDA software platform. Kress, 59, joined the company in 2013 and has served as CFO for 13 years.
The board is also reportedly working with an external firm to identify other candidates. External names mentioned include Arm CEO Rene Haas and Nvidia veteran Jeff Fisher. Some investors have suggested a co-CEO structure involving both Kress and Buck during a transition.
The controversy has impacted Nvidia shares, which lost approximately $430 billion in market value over Monday and Tuesday. While the stock recovered 2.9 per cent during Wednesday's regular trading session, it dropped more than 8 per cent in after-hours trading following reports regarding the board's discussion on Huang's future.