NVIDIA (NVDA.US) downplays CEO succession rumors: no official contact with potential candidates yet, calling all speculation "premature"
Nvidia has downplayed speculation that the company is already in contact with potential CEO candidates, stating that it is still in the process of selecting a headhunting firm to seek a successor for ousted leader Jensen Huang.
According to information from Zhitong Finance APP, Nvidia (NVDA.US) has downplayed speculation that the company is already in contact with potential CEO candidates, stating it is still selecting an executive search firm to look for a successor to the ousted leader Jensen Huang.
“We are choosing an executive search firm for the role of Nvidia CEO; we have not yet formally contacted any potential candidates,” the chipmaker said in a statement.
This statement was released amid ongoing discussion about who might be selected to succeed Jensen Huang. Currently, Nvidia has appointed CFO Colette Kress as interim CEO and announced it will initiate the process to search for a permanent CEO to replace Jensen Huang, stating that both internal and external candidates will be considered.
According to a source familiar with the matter, Kress held her first meeting as interim CEO with senior management at Nvidia’s Santa Clara, California headquarters on Thursday afternoon local time. The individual requested anonymity to discuss internal details.
Earlier reports indicated that the board had already approached Arm Holdings Plc (ARM.US) CEO Rene Haas for the position. This report caused Arm’s stock price to plummet nearly 10% during Friday trading before narrowing its losses.
The media, citing sources, reported that Nvidia's board has contacted Haas, listing him as one of the potential candidates to succeed Jensen Huang. Haas has served as CEO of Softbank's chip design company Arm since 2022, and previously worked at Nvidia for approximately seven years, maintaining close relationships with Jensen Huang and some Nvidia board members. However, Haas is only one among several candidates considered by the board, and it remains uncertain whether he will ultimately be appointed or accept the position.
Nvidia’s board said: “Any speculation regarding specific candidates, whether internal or external, is premature.”
Nvidia, the world's largest chipmaker, officially severed ties with Jensen Huang on Thursday due to multiple expanding scandals involving extramarital affairs. He led Nvidia for thirty years, transforming it into a giant at the core of the AI computing boom.
Nvidia’s stock price fell over 2% on Friday, causing the company's market value to drop below 4 trillion dollars, as investors digest the news of Jensen Huang's departure and the ongoing shadow of investigations into his conduct.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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