Nvidia approaches Arm’s Rene Haas as employees push for Jensen Huang’s return

Huang stepped down from his roles as president, CEO, and board member after revelations of extramarital affairs, one reportedly involving a suspected Chinese spy. His resignation came during an internal board investigation into allegations of personal misconduct, including workplace relationships.

Internal revolt

While the board considers external candidates, an internal Nvidia post has drawn more than 1,600 comments with many employees calling for Huang's reinstatement. The company has appointed Colette Kress as interim CEO and Harvey Jones as board chair during the transition.

The board has stressed putting US national and economic security first while an independent investigation proceeds.

Market reaction

Markets reacted quickly to the news, with Arm shares falling nearly 10% during trading on November 13 before recovering to close down approximately 4.63%. Huang co-founded Nvidia in 1993 and led it for more than 33 years.

What happens next

The board must decide whether to formally name a candidate, potentially Haas, and determine how to handle the ongoing investigation. The independent investigation's findings could shape both the succession process and any possibility of Huang's return. Nvidia will also need to address significant employee sentiment as demonstrated by the internal thread with over 1,600 comments.