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Jensen Huang, Nvidia’s co-founder and chief executive for 33 years, resigned on Thursday and agreed to testify before the U.S. Congress before Thanksgiving, which is celebrated on November 26. The hearing comes amid controversy over the company’s business ties with China, allegations of purported links to Chinese espionage, and revelations about the former executive’s personal life.
Nvidia announced that Chief Financial Officer Colette Kress will take over as interim CEO, while the board of directors searches for a permanent successor. Huang also resigned from the board, and Harvey Jones was appointed chairman.
The scandal erupted after The New York Times published reports about Huang’s relationship with Alice Huang, the former director of Singapore-based Megaspeed, an Nvidia customer under scrutiny by U.S. authorities. The espionage allegations have not been publicly substantiated, and Beijing denied them. Huang later apologized for infidelity, while the press reported another alleged relationship with an Nvidia vice president.
The case is being reviewed by the FBI and is the subject of an internal company investigation. Huang has not been charged with any crime. His departure caused Nvidia shares to temporarily fall by as much as 12%, as investors feared the company would lose momentum without the leader who had guided its strategy for more than three decades.
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