Nvidia Has Yet to Hire CEO Search Firm as Shares Drop 2% After Jensen Huang Exit
Updated
Updated · CNBC · Nov 13
Nvidia Has Yet to Hire CEO Search Firm as Shares Drop 2% After Jensen Huang Exit
3 articles · Updated · CNBC · Nov 13
Summary
Nvidia's board said Friday it is still selecting a search firm for the CEO search and has not formally engaged any candidates to replace Jensen Huang.
Colette Kress, installed as interim CEO on Thursday, has already held her first meeting with senior executives in Santa Clara while the board says both internal and external candidates remain under consideration.
The statement pushed back on reports that Arm CEO Rene Haas had been approached, with the board calling speculation about any individual candidate premature.
Shares fell more than 2% Friday, pulling Nvidia's market value below $4 trillion as investors weighed Huang's resignation and ongoing probes into his conduct and possible foreign-intelligence links.
Those probes have widened into Washington, where three House committees and the Senate Banking Committee want Huang to brief lawmakers on national-security concerns and Nvidia AI chips reportedly reaching China.
Could Jensen Huang's scandalous exit actually force Nvidia to abandon its unusual management style and mature into a more stable tech titan?
How did $3 billion in restricted AI chips bypass US controls, and will this security probe permanently disrupt Nvidia's supply chain?
With Nvidia's visionary gone and a flat hierarchy in chaos, can rivals like AMD finally shatter its 90% AI chip monopoly?
Nvidia’s $1.6 Trillion Meltdown: Leadership Collapse, Espionage Allegations, and the Battle for AI Supremacy
Overview
In November 2026, Nvidia was rocked by revelations of CEO Jensen Huang’s extramarital relationships, including one with Alice Huang, who was under U.S. intelligence scrutiny. This led to Huang’s abrupt resignation, triggering a sharp drop in Nvidia’s stock and prompting the board to appoint CFO Colette Kress as interim CEO and Harvey C. Jones as independent Board Chair. The crisis sparked federal investigations into both Huang and Megaspeed International for alleged export control violations, while shareholders filed lawsuits over compliance failures. As Nvidia’s leadership scrambled to stabilize, competitors gained ground and the company’s philanthropic foundation faced new uncertainty.