Nvidia shares slide as board prepares to oust CEO Jensen Huang
Reported by CBS News ·
Shares fall after board news
The latest fall extends a steep decline in Nvidia’s market value. The company has lost more than $450 billion since announcing a probe into Huang’s conduct on Nov. 8.
Experts cite conduct rules
The code also says employees have a duty to uphold high ethical standards. Huang himself specified that responsibility in the policy.
Huang apologizes to family
In a message to employees on Sunday, Jensen Huang acknowledged having an affair. He apologized to his wife and their two children, who also work at Nvidia. Huang wrote, “There is no excuse for what I did. I am deeply sorry.”
Key points
- Nvidia fell more than 8% to $159.51 in after-hours trading Wednesday.
- The company’s market value has dropped more than $450 billion since Nov. 8.
- Governance experts said the alleged relationship with Alice Huang appears to conflict with Nvidia’s conduct rules.
- Huang admitted to an affair and apologized to his wife and children.