Nvidia CEO Jensen Huang resigns amid investigation into alleged affairs
Nvidia stock fell 14 per cent after Jensen Huang stepped down following reports of relationships with two employees.
Nvidia co-founder Jensen Huang has resigned as chief executive following an investigation into his alleged extramarital relationships. According to Firstpost, the company's stock price dropped 14 per cent after his departure on Thursday.
The investigation involves alleged affairs with Alice Huang, a Chinese businesswoman, and Kimberly Powell, Nvidia's vice president of healthcare. The New York Times reported that Powell, who reports to Huang, was seen on video acting affectionately at a San Jose hotel during an Nvidia conference in March.
Alice Huang, an executive at the Singapore-based company Megaspeed, is suspected by US intelligence officials of having links to Chinese intelligence services. Firstpost reported that US agencies concluded she is a spy who may have used the relationship to illegally route Nvidia chips into China.
In a statement dated November 8, Huang acknowledged being unfaithful to his wife and apologised to employees, though he did not name Alice Huang, according to the Wall Street Journal.
Following the leadership change, interim CEO Colette Kress and board chair Harvey Jones emailed staff to express optimism. Kress announced a company-wide meeting scheduled for November 18.
House Foreign Affairs Committee Chairman Brian Mast said on Thursday that Huang has agreed to testify before Congress. The former CEO is expected to appear under oath later this month, possibly behind closed doors.