Stop calling it a rumor. NVIDIA’s official website has just posted a statement on the CEO transition. Jensen Huang is resigning as president, chief executive officer, and director, effective immediately, according to the company itself.
Current CFO Colette Kress will serve as interim CEO, while continuing as executive vice president and chief financial officer until a permanent successor is in place. The board has also launched a formal search for a CEO, considering both internal and external candidates. Long-serving director Harvey C. Jones has been appointed the company’s first-ever chairman of the board. NVIDIA did not previously have this position; it had only an independent lead director. This, too, is stated officially.
The board said it has confidence in Kress and the current leadership team, and expects no disruption to the business, customer commitments, or product roadmap. The third-quarter earnings call is still scheduled as planned for November 17 at 2 p.m. Pacific Time, which is 6 a.m. on November 18 in Beijing.
$NVDAB is around 156.2 right now. At 9:54 p.m., it plunged to 154.34, its lowest price so far today, breaking below the 155.1 level from 6:28 a.m. The market sold off earlier on the possibility of a leadership change; now the change has happened. U.S. markets open tonight at 10:30 p.m. Don’t treat the official announcement as the all-clear to buy the dip, and don’t chase the price down by selling either. The permanent CEO hasn’t been named yet, and the November 17 earnings report is still ahead. See how the market prices it at the open before making a move.
#英伟达Q3财报将至：能否化解市场疑虑？ #Jensen Huang resigns as CEO; NVIDIA’s strategic direction draws attention
Current CFO Colette Kress will serve as interim CEO, while continuing as executive vice president and chief financial officer until a permanent successor is in place. The board has also launched a formal search for a CEO, considering both internal and external candidates. Long-serving director Harvey C. Jones has been appointed the company’s first-ever chairman of the board. NVIDIA did not previously have this position; it had only an independent lead director. This, too, is stated officially.
The board said it has confidence in Kress and the current leadership team, and expects no disruption to the business, customer commitments, or product roadmap. The third-quarter earnings call is still scheduled as planned for November 17 at 2 p.m. Pacific Time, which is 6 a.m. on November 18 in Beijing.
$NVDAB is around 156.2 right now. At 9:54 p.m., it plunged to 154.34, its lowest price so far today, breaking below the 155.1 level from 6:28 a.m. The market sold off earlier on the possibility of a leadership change; now the change has happened. U.S. markets open tonight at 10:30 p.m. Don’t treat the official announcement as the all-clear to buy the dip, and don’t chase the price down by selling either. The permanent CEO hasn’t been named yet, and the November 17 earnings report is still ahead. See how the market prices it at the open before making a move.
#英伟达Q3财报将至：能否化解市场疑虑？ #Jensen Huang resigns as CEO; NVIDIA’s strategic direction draws attention