Nvidia's board says it has not yet selected a headhunting firm to find Jensen Huang's permanent successor
Nvidia hasn’t selected search firm for permanent Huang replacement, board tells CNBC
Nvidia's board told CNBC that the company has not yet selected a headhunting firm to help find a permanent successor to former CEO Jensen Huang, that the selection is still underway, that it has not formally approached any potential candidate, and that speculation about internal or external candidates is premature. The Financial Times reported on Friday that the board had approached Arm CEO Rene Haas. Nvidia announced on Thursday that Jensen Huang was stepping down as CEO, following multiple reported extramarital affairs, including a relationship with a woman alleged to be a Chinese spy; CFO Colette Kress has become interim CEO. The company's stock fell more than 2% on Friday, and its market value dropped below $4 trillion. Nvidia said on Tuesday that it had hired Wachtell Lipton to investigate allegations that Jensen Huang was targeted by a foreign intelligence operation; three House committees asked Jensen Huang to be questioned, and the Senate Banking Committee also asked him and Commerce Secretary Howard Lutnick to testify on national security concerns and the reported flow of the company's top AI chips to China.
The board's statement shows the successor search is still at the stage of selecting a headhunting firm, and it calls candidate rumors premature; this can be used to track the company's direction after Jensen Huang's departure.