Nvidia board reportedly weighs removing CEO Jensen Huang; shares fall about 8% after hours

Nvidia’s stock drops as board reportedly preps to oust CEO Jensen Huang

Nvidia's board is reportedly weighing whether to remove co-founder and CEO Jensen Huang, who has led the company for 33 years. Shares fell about 8% after the bell Wednesday. The Wall Street Journal, citing sources, said the board could meet as soon as Wednesday to decide his fate. Huang admitted an extramarital affair on Sunday; the person involved was identified by US intelligence as a Chinese spy. The New York Times reported Wednesday night on another affair with an executive who reported to him. Nvidia stock is down about 11% over five days, and the company has no clear successor or succession plan.

Why it matters: Nvidia's board is reportedly weighing removing Huang while the company has no clear successor or succession plan, leaving the leadership transition uncertain.