Nvidia’s board reportedly met Wednesday night to consider whether Jensen Huang should remain CEO, while the company’s shares fell more than 8% in after-hours trading as reports increased uncertainty about his leadership.
A source familiar with the matter told Reuters that directors met to consider removing Huang, Nvidia’s co-founder and longtime chief executive. The company had not publicly announced a decision by Thursday morning. The board meeting itself was not an announcement that Huang had been removed.
The reported discussions came amid news reports about alleged personal relationships involving Huang. The New York Times reported that he had a relationship with an Nvidia executive who reported to him. NBC News said it had not independently confirmed that account.
Huang had previously acknowledged being unfaithful to his wife, without giving details. On Sunday, Nvidia’s board expressed confidence in Huang. The board also announced an independent investigation after reports that a foreign intelligence effort had targeted him.
Under the company’s rules, a majority of directors can remove a company officer. Huang’s possible departure would raise questions about who might succeed him at the chipmaker he has led for more than three decades. Investors reacted sharply to the uncertainty.
Nvidia shares had risen during regular trading Wednesday before dropping in extended trading after reports that the board was weighing his future.