According to a report from The Wall Street Journal, Nvidia's board is preparing to remove co-founder and CEO Jensen Huang, who has led the firm for 33 years. The board is scheduled to meet as early as this Wednesday to discuss Huang's future with the company.
The situation escalated after Huang admitted on Sunday to an extramarital affair with a woman identified by U.S. intelligence as a Chinese spy. On Wednesday evening, however, The New York Times reported that Huang was also involved in an affair with an executive who directly reports to him.
Although Nvidia has become one of the world's most valuable companies by designing the chips fueling the AI boom, its stock value took a hit during this scandal. Following the reports, the stock dropped approximately 8% in after-hours trading on Wednesday and has fallen about 11% over the past five days.
Known for his hands-on leadership style—having noted that he delegates very little and manages about 60 direct reports—Huang has left the company without an apparent successor or a formal succession plan in place.
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