THE BARE STORY
Nvidia has begun a search for a permanent chief executive after Jensen Huang resigned from the company’s top role. Chief Financial Officer Colette Kress has been named interim CEO, and the board is considering internal and external candidates.
The company said its broader leadership team would support continuity in operations, customer commitments and product plans during the transition. Harvey Jones was selected as board chair, according to the company’s leadership announcement.
Two major shareholders, Brad Gerstner of Altimeter Capital and Gavin Baker of Atreides Management, called on Nvidia’s board to conduct a measured search and consider the possibility of Huang returning. They said Kress could lead the company capably while the board reviews its options.
Market activity was mixed following the leadership change. Nvidia ended the week at $162.85 per share after its longest weekly losing streak since 2012, while Advanced Micro Devices and Broadcom each rose by nearly 13%, according to market figures cited by investment analysts. Kress said Nvidia remained committed to supporting customers, partners, developers and shareholders ahead of its third-quarter earnings report.
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