Global Shock Bomb: Huang Renxun Resigns and Steps Down

Huida CEO Jen-Hsun Huang. (Bloomberg)

[Financial Channel/Comprehensive Report] A major crisis broke out at Huida, the global AI chip leader! CEO Jen-Hsun Huang was exposed by the media to be involved in two extramarital affairs, one of which was suspected by US intelligence agencies of being involved in Chinese espionage. Huida announced on the 12th that Huang Renxun has resigned as the company's president, chief executive officer and board member, effective immediately. Colette Kress, currently Huida's executive vice president and chief financial officer, has agreed to serve as acting CEO.

According to reports from CNBC, Reuters and other media, Huida’s board of directors held an online meeting on the evening of November 11, Eastern Time (morning of November 12, Taiwan time) to discuss the departure of CEO Huang Renxun.

Huida's board of directors announced on the 12th that Huang Renxun has resigned as the company's president, chief executive officer and board member, effective immediately.

Colette Kress, currently Huida's executive vice president and chief financial officer, has agreed to serve as acting CEO. Until a formal successor is named, Corless will concurrently serve as executive vice president, chief financial officer and acting chief executive officer.

The board of directors also appointed Harvey C. Jones as the first chairman of the board of directors of Huida. Jones has more than 30 years of experience in entrepreneurship, technology business management and venture capital. In the past, he served as CEO and executive chairman of Synopsys.

Jones, the new Chairman of the Board of Directors, said: "Kresse has helped lead Huida through a period of extraordinary growth and has a deep understanding of the company's business, customers, operations and financial conditions. She is supported by an experienced leadership team, which has played a key role in executing Huida's strategy and advancing its technology development roadmap."

Jones further stated that the board of directors has full confidence in Kerese and the management team and expects that the company's operations, customer commitments and product development blueprint will continue to advance without interruption.

Huida affirmed Huang Renxun's profound contribution to Huida and pointed out that Huida has become one of the most influential technology companies in the world. The board of directors and the company would like to thank Jen-Hsun Huang for his significant contributions to the company and the entire industry.

The turmoil was caused by Huang Renxun's extramarital affairs that were exposed one after another. The New York Times reported on the 11th that Huang Jensen was in a relationship with Kimberly Powell, vice president of Huida's healthcare business. In March this year, the two were allegedly photographed having an intimate interaction at a hotel in San Jose, California, which raised concerns about corporate governance and conflicts of interest.

Another controversy involves Jen-Hsun Huang's extramarital affair with Alice Huang. According to the Financial Times, Huang Renxun once had a relationship with Huang Le, and the New York Times quoted U.S. intelligence officials as saying that Huang Le was suspected to be related to the Chinese Ministry of State Security, and Huang Le was accused of being a Chinese spy.

Huang Renxun is the co-founder of Huida. He has been at the helm of the company for more than 30 years and is a key figure in promoting Huida to become the world's leader in AI chips. Once there are major changes in leadership, it may affect investment confidence in the global AI supply chain and technology stocks.