Nvidia (NVDA) board prepares to oust Jensen Huang and works with an outside firm to find a new CEO

Key points Nvidia's board is preparing to oust Jensen Huang, WSJ reports Nvidia's directors are working with an outside firm to find CEO candidates, Bloomberg reports Nvidia shares fell 8.6% after hours Nvidia's (NVDA) board is preparing to oust chief executive Jensen Huang after he had two extramarital affairs, including one with a suspected Chinese spy and another with an employee, The Wall Street Journal reported on Nov. 11, and the board planned to meet as soon as that day to decide his future. Nvidia shares fell 8.6% to $158.84 in after-hours trading as of 7:58 p.m. ET, from the day's close of $173.73. At that after-hours price, the company's market value would be about $359 billion below its value at the close. The board is considering an interim CEO Nvidia's board has been working with an outside firm to identify possible replacements for Huang, Bloomberg reported. Directors are also considering whether to appoint an interim CEO while they search for a permanent one.

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