Nvidia (NVDA.US) downplays rumors of CEO successors: no potential candidates have been officially contacted, saying all speculations are “too early”

The Zhitong Finance App learned that Nvidia (NVDA.US) has played down speculations that the company is already in contact with potential CEO candidates, saying that it is still screening a headhunting company to find a successor to the ousted leader Wong In-hoon.

“We are in the process of selecting a headhunting company for the Nvidia CEO position, and we have yet to officially approach any potential candidates,” the chipmaker said in a statement.

Prior to the announcement of the above statement, there was a lot of discussion in the outside world about who might be elected to replace Hwang In-hoon. Currently, Nvidia has appointed CFO Colette Kress (Colette Kress) as interim CEO and said it will begin the process of finding a permanent CEO to replace Hwang In-hoon, while also saying it will consider internal and external candidates.

According to a source familiar with the matter, Kress held his first meeting as interim CEO at Nvidia's headquarters in Santa Clara, California on Thursday afternoon local time. The person requested anonymity in order to discuss internal details.

Earlier, it was reported that the board of directors had contacted Rene Haas (Rene Haas), CEO of Arm Holdings Plc (ARM.US), about this position. The report caused Arm's stock price to plummet by nearly 10% on Friday, then the decline narrowed somewhat.

The media quoted people familiar with the matter as reporting that Nvidia's board of directors has contacted Haas and listed him as one of the potential candidates to replace Hwang In-hoon. Haas has been the CEO of Arm, a chip design company owned by SoftBank since 2022. Previously, he worked at Nvidia for about seven years and still maintains close relationships with Hwang In-hoon and some Nvidia board members. However, Haas is only one of many candidates considered by the board of directors, and it is uncertain whether he will eventually be appointed or accepted for the position.

“Any speculation about a specific candidate, internal or external, is premature,” said Nvidia's board of directors.

Nvidia, the world's largest chipmaker, officially cut ties with Hwang In-hoon on Thursday due to multiple and growing scandals involving extramarital affairs. He was in charge of Nvidia for 30 years and built it into a giant at the heart of the AI computing craze.

Nvidia's stock price fell more than 2% on Friday, causing the company's market value to fall below $4 trillion. Investors are digesting the news of Hwang In-hoon's departure and the shadow of ongoing investigations into his behavior.