Nvidia courts Arm CEO Rene Haas as Huang's successor

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Nvidia's co-founder resigned after reports of extramarital affairs. The board has reportedly approached Arm CEO Rene Haas, but the search is wide open and the pool of viable candidates is thin.

Jensen Huang resigned on Thursday as Nvidia's chief executive, president and board member, ending 33 years at the company he co-founded

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. The resignation followed reports of multiple extramarital affairs, including one with a woman US intelligence suspected of being a Chinese spy

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. The spy allegation is unconfirmed. Either way, the reported exit of the man who ran perhaps the world's most important chipmaker leaves the company at the centre of the AI industry needing a successor

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Source: Fortune

Source: Fortune

The board had publicly expressed confidence in Huang before accepting his resignation days later

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. Reports differ on how many affairs there were: one says two, another three, including two employees

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. The board named finance chief Colette Kress interim CEO while it searches for a permanent successor; she keeps that job and fronts the quarterly results call next Tuesday

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. Analysts see her as financially steady but lacking Huang's engineering depth, despite running Nvidia's finances since 2013

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. As recently as last month Huang told Bloomberg he planned to stay up to 20 more years, saying his children at the company would "have to earn it"

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. The board also appointed longtime director Harvey Jones as its first-ever chair, by one account

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The board's first move: Arm's Rene Haas

The clearest reported step came on Friday. A single Financial Times report, citing people familiar with the matter, said the board approached Arm Holdings CEO Rene Haas about the permanent job

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. Reuters could not verify the report, Arm declined to comment and Nvidia did not respond

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. There is no guarantee Haas will be offered the job or would take it

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Source: New York Post

Source: New York Post

He fits, though. Haas spent seven years at Nvidia leading its computing-products unit before moving to Arm in 2013, has led Arm since 2022 and took it public on Nasdaq in 2023

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. The companies know each other well. Nvidia tried to buy Arm in a $40 billion deal abandoned in 2022 under regulatory opposition

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. Some of its processors, including Grace and Vera, run on Arm architecture

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. Investors reacted to the report anyway. Arm's US-listed shares fell more than 5% on Friday

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, and Nvidia's stock is down nearly 30% over a month, its longest slump since 2012, per Benzinga Pro data

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Everyone else being floated

Other reported names are circulating for Nvidia's top job, though most lists are speculation rather than confirmed board consideration

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. They include Kress; Ian Buck, who created the software developers use to program Nvidia's chips; Lisa Su of rival Advanced Micro Devices; Micron's Sanjay Mehrotra; and Huang's own children

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. President Trump weighed in on Nvidia's succession on Truth Social, naming Tim Cook the "only one man" for the job: "A Legend replaces a Legend!"

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. Cook, who stepped down as Apple's CEO in September after 15 years, looks unlikely to reporters, and his continuing Apple chairman role could complicate any Nvidia recruitment

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. Apple's chip chief Johny Srouji was also named by Bloomberg as an Nvidia candidate, but he told his staff "I don't plan on leaving anytime soon"

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Source: ET

Source: ET

The political weather around the company is rough too. Treasury Secretary Scott Bessent said Friday he is frustrated with Commerce's delay in restricting chip exports to Singapore-based Megaspeed International, led by an alleged Chinese spy

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. He said his department, along with State, Defense and the US trade office, had favoured adding Megaspeed to the export control list for months while Commerce held the matter

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. Democrats are pressing the administration over its limits on Nvidia's China sales

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A small pool

Recruiters and analysts expect the board to pick a technologist, possibly from outside, which makes Kress an unlikely permanent pick

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. Some expect Huang's successor to depart from his hands-on style, with its roughly 60 direct reports spanning engineering, export negotiations and AI investments, toward something more institutional

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. Whoever it is, the field of people who could do the job is narrow. Scott W. Simmons of Crist Kolder Associates put it to Fortune plainly: "There's such a small pool to fish in when you think about people capable of stepping into this"

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