Nvidia’s board told CNBC on Friday that it has yet to choose an executive search firm to find a permanent CEO, and has not formally approached any potential candidates. The board’s exact words were: “Any speculation about specific candidates, whether internal or external, is premature.”
The comment was aimed at rumors circulating outside the company. On the same day, the Financial Times cited people familiar with the matter as saying that the board had approached Arm CEO Rene Haas. Arm did not confirm this. Haas worked at Nvidia for seven years before joining Arm in 2013, where he led the computing products business. But this was a media report, not an Nvidia appointment, and the board has not acknowledged holding formal talks.
There are also two other things circulating online that are easy to confuse. One is an open letter calling for Jensen Huang to be reinstated, which listed executives including Bryan Catanzaro, vice president of applied deep learning research, as signatories. Catanzaro said on X that the letter was fabricated and that he would not sign it even if it were real. He is saddened by Huang’s departure, but fully supports the board and interim CEO Colette Kress. The other is Elon Musk’s reply on X on Friday saying that a petition to reinstate Huang was underway and that he had signed it. He didn’t say which petition he meant or provide a link. That was his personal statement, not an official Nvidia decision.
What we can confirm for now is the official statement issued on Thursday. Jensen Huang stepped down as president, CEO, and director effective immediately. The interim CEO is current CFO Colette Kress, who will continue to serve as CFO until a permanent successor is in place. Longtime director Harvey C. Jones was appointed the company’s first-ever board chair. The board said it would consider both internal and external candidates, but has confidence in the current leadership team and expects no disruption to the business or product roadmap.
A permanent CEO has not yet been chosen, and the firm responsible for finding one is still being selected. Names are circulating quickly, but the company’s process has only just begun.
Earnings for the third quarter of fiscal 2027 will be announced next Tuesday, November 17, at approximately 1:20 p.m. Pacific Time, followed by a conference call at 2:00 p.m. That’s 5:20 a.m. and 6:00 a.m. on November 18 in Beijing. The quarter ended on October 25, so the results were generated while Huang was still in charge. The interim team’s first formal test will be how it discusses the outlook on the call.
It’s Saturday now, and U.S. markets are closed. NVDAB on Binance is around 162.35, roughly in line with Friday’s U.S. closing price of 162.85, but weekend trading is not a reliable way to establish a price. Don’t bet on who will succeed Huang or whether he’ll return based on media reports naming candidates, an online open letter, or Musk’s comments. Wait for an official company announcement, then see how the November 17 earnings report and conference call shape the market’s expectations.
#Nvidia is searching for a new CEO. Who will succeed Jensen Huang?
$NVDAB
The comment was aimed at rumors circulating outside the company. On the same day, the Financial Times cited people familiar with the matter as saying that the board had approached Arm CEO Rene Haas. Arm did not confirm this. Haas worked at Nvidia for seven years before joining Arm in 2013, where he led the computing products business. But this was a media report, not an Nvidia appointment, and the board has not acknowledged holding formal talks.
There are also two other things circulating online that are easy to confuse. One is an open letter calling for Jensen Huang to be reinstated, which listed executives including Bryan Catanzaro, vice president of applied deep learning research, as signatories. Catanzaro said on X that the letter was fabricated and that he would not sign it even if it were real. He is saddened by Huang’s departure, but fully supports the board and interim CEO Colette Kress. The other is Elon Musk’s reply on X on Friday saying that a petition to reinstate Huang was underway and that he had signed it. He didn’t say which petition he meant or provide a link. That was his personal statement, not an official Nvidia decision.
What we can confirm for now is the official statement issued on Thursday. Jensen Huang stepped down as president, CEO, and director effective immediately. The interim CEO is current CFO Colette Kress, who will continue to serve as CFO until a permanent successor is in place. Longtime director Harvey C. Jones was appointed the company’s first-ever board chair. The board said it would consider both internal and external candidates, but has confidence in the current leadership team and expects no disruption to the business or product roadmap.
A permanent CEO has not yet been chosen, and the firm responsible for finding one is still being selected. Names are circulating quickly, but the company’s process has only just begun.
Earnings for the third quarter of fiscal 2027 will be announced next Tuesday, November 17, at approximately 1:20 p.m. Pacific Time, followed by a conference call at 2:00 p.m. That’s 5:20 a.m. and 6:00 a.m. on November 18 in Beijing. The quarter ended on October 25, so the results were generated while Huang was still in charge. The interim team’s first formal test will be how it discusses the outlook on the call.
It’s Saturday now, and U.S. markets are closed. NVDAB on Binance is around 162.35, roughly in line with Friday’s U.S. closing price of 162.85, but weekend trading is not a reliable way to establish a price. Don’t bet on who will succeed Huang or whether he’ll return based on media reports naming candidates, an online open letter, or Musk’s comments. Wait for an official company announcement, then see how the November 17 earnings report and conference call shape the market’s expectations.
#Nvidia is searching for a new CEO. Who will succeed Jensen Huang?
$NVDAB