Altimeter and Atreides urge Nvidia board to keep open the possibility of Jensen Huang returning as CEO
Altimeter, Atreides urge Nvidia board to keep doors open for Jensen Huang's return as CEO - The Economic Times
Altimeter Capital and Atreides Management wrote to Nvidia's board, urging a slow and deliberate succession process after Jensen Huang's sudden resignation as CEO and keeping open all options, including Huang's return. The letter said the board should not rush to appoint a permanent successor before the facts surrounding the departure are clear, and expressed confidence in interim CEO Colette Kress and her team. On November 12, Nvidia announced that Jensen Huang was resigning as president, CEO and director effective immediately, that Kress, CFO since 2013, would serve as interim CEO, and that Harvey C. Jones would become the company's first chairman. The change came amid a controversy over allegations that Huang had relationships with three women, one of whom was Alice Huang, linked to Singapore data company Megaspeed, which had been scrutinized over alleged flows of Nvidia chips to China; Huang subsequently apologized to his family and employees for the affair, and the board also launched an independent investigation into reports that he had been alleged to be a target of a foreign intelligence operation, while saying there was no reason to believe national security or company secrets had been compromised.
Two investors publicly wrote to Nvidia's board, arguing for slowing the succession process and keeping open the option of Jensen Huang's return, demonstrating a concrete way shareholders can intervene in a sudden personnel change.