WSJ reports Nvidia prepares to oust Jensen Huang as stock sinks amid board investigation
Board weighs Huang’s future
The Wall Street Journal reported that Nvidia’s board is preparing to oust CEO Jensen Huang following disclosures about two extramarital relationships. Huang, 63, and Powell, 48, are both married to other people.
Powell, Nvidia’s vice president of health care, reports directly to Huang. She joined the company in 2008 and was promoted to lead its health care unit in 2017.
Conduct rules under scrutiny
People familiar with the matter said Huang and Powell were seen behaving affectionately at a San Jose hotel during Nvidia’s GTC developer conference in March. At the same conference, Powell presented on AI applications in biology, using cartoon depictions of Huang.
Nvidia’s code of conduct instructs employees to avoid situations, including personal relationships, that create internal conflicts. The policy says the company “promptly investigates reports of misconduct,” according to the article.
Investigation and congressional requests
The board previously began an internal investigation led by the law firm Wachtell, Lipton, Rosen & Katz. The reported disclosures add to an existing crisis at the chip-making company. Republican leaders of three House committees have asked Huang to attend a closed-door briefing about his interactions with the woman alleged to be a Chinese intelligence asset.
Key points
- The Wall Street Journal reported that Nvidia’s board is preparing to oust Jensen Huang.
- Kimberly Powell reports directly to Huang and leads Nvidia’s health care unit.
- The reported relationship conflicts with Nvidia’s rules on personal relationships and internal conflicts.
- The board has launched an investigation, and Republican House committee leaders want a briefing with Huang.