After Jensen Huang resigned as Nvidia’s CEO, the board of directors immediately began searching for his successor, appointing CFO Colette Kress as interim head of the company. According to the Financial Times, the board of directors approached Rene Haas, CEO of British chip developer Arm, with such a proposal.
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Haas is among several potential candidates for the job, Financial Times sources said. However, he has not yet received an official offer, and there is no guarantee that he will agree to accept it.
Haas has headed Arm, owned by the Japanese conglomerate SoftBank, since 2022. He previously worked at Nvidia for about seven years and still has close ties with both Huang himself and some members of the Nvidia board of directors.
It is believed that the board of directors may have been attracted by his deep knowledge of the semiconductor industry and experience with the ecosystem of chip design for AI systems.
Following the announcement of Huang’s resignation, Nvidia shares in New York trading immediately fell about 14.3% from the previous day’s close. As a result, the decline was 4.3%, and the share price dropped to $166.19. Meanwhile, shares of rivals Advanced AMD and Broadcom rose more than 5% as investors turned their attention from Nvidia to other companies.
US-traded shares of Arm have recouped some of their decline following reports of Nvidia’s board of directors having contacts with Haas, but are still down more than 5%. reported BigGo Finance resource.
Many market participants view the current situation as a change in the “key figure”. Will Allen of US investment advisory firm Centara Capital said that after Nvidia’s personnel changes, customers are unlikely to immediately reduce their chip purchases or switch to competitors’ products. However, he noted that Huang’s departure could give competitors a chance to close the gap with Nvidia.
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