Nvidia Board Weighs Removing Jensen Huang, Searches for Successors

• Nvidia’s board is considering removing Jensen Huang and is working with an outside firm to identify possible successors.
• The company has appointed Wachtell to investigate the allegations, but has not confirmed Huang’s removal or named an interim CEO.

Nvidia’s board is considering removing CEO Jensen Huang and has started looking for potential replacements, raising fresh questions about the leadership of the world’s largest AI chipmaker. The directors met late Wednesday, November 11, to discuss Huang’s future, according to Reuters, which cited a person familiar with the matter.

Bloomberg separately reported that the board is working with an outside firm to identify possible successors. Directors are also considering appointing an interim CEO while searching for a permanent replacement. However, Nvidia has not announced a decision to remove Huang, and no successor has been named.

The reported discussions mark a sharp change from the board’s position just days earlier. On November 8, Nvidia said its directors had confidence in Huang and his leadership team, even as they launched an independent investigation into reports that he had been targeted by a foreign intelligence operation.

Wachtell Leads Independent Investigation

Nvidia confirmed on November 10 that its board had appointed Wachtell, Lipton, Rosen & Katz to conduct what it called a “thorough and independent investigation.” The review is being led by Joon H. Kim, a partner at the law firm and former acting US attorney for the Southern District of New York.

The investigation follows reports concerning Huang’s relationship with Alice Huang, a Chinese businesswoman whom US intelligence officials reportedly suspect of links to Chinese intelligence. These allegations have not been independently established. Huang has acknowledged being unfaithful to his wife and apologised to his family and colleagues.

Further, The New York Times also reported on November 11 that Huang had a separate relationship with Kimberly Powell, Nvidia’s vice president of healthcare. The claim remains an allegation based on anonymous sources. 

Huang, 63, co-founded Nvidia in 1993 and owns about 3.6% of its shares. The company has no publicly confirmed successor, although CFO Colette Kress has been mentioned as a possible interim choice.

The uncertainty has also affected the stock. Nvidia shares fell more than 8% in after-hours trading following reports of the board’s plans. The company is scheduled to release its quarterly results on November 17, adding another important date as the leadership situation remains unresolved.

Meanwhile, the developments also drew reactions from big shots. On November 12, Elon Musk responded to a post on X urging him to hire Huang, writing, “That would be an honor.” The comment came as reports emerged that Nvidia’s board was considering replacing its long-time CEO. But, Musk did not announce a formal job offer, and there is no indication that discussions between the two have taken place.