The management board of the Navisia company has gathered on Wednesday to consider the possibility of the dismissal of Jensen Huang from the company’s office executive director, who is the most valuable chipmaker in the world, reports some media.
The meeting comes after a troubled week for the company, during which Huang, co-founder and director, has admitted having had a romantic relationship with a woman who is suspected of being a Chinese spy.
This development marks a major change from Sunday’s position, when the board of Nvilia expressed confidence in Juangu and his team leading.
Meanwhile, company shares have dropped by more than 8 percent in trading after the stock is closed, since Wall Street Journal He reported that Navis was preparing to download Huang.
If this decline continues, the company could lose about $600 billion from its market value, since the board announced the launch of the investigation into Huang’s relationship with businessman Alice Huang, who is accused of being a Chinese spy.
The market is starting to account for the founder’s removal as the most likely scenario for the Navian, and no longer as a distant danger, Armina Rosenberg, the portfolio manager and co-founder of Minotaur Capital, the company that owns Nvivia shares.
According to the company’s statute, Huang can be dismissed from post ʹme or without reason if most board members vote for this. The Nvivia Board consists of 11 members, while all except Huagu himself are considered independent.
Earlier this week, Navisia engaged the renowned American legal studio Wachtwell, Lipton, Rosen & Katz to conduct a thorough and independent investigation into Huang’s relationship.
The legal study has asked him to continue running the company until the investigation is complete.
Meanwhile, late Wednesday, The New York Times reported that Huang had another affair, this time with a Nvivia employee, Kimberly Powell.
She was president of the health care sector in the company and, according to reports, was filmed in March during a Nvivia conference, appearing close to Huang at a hotel.
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Source Layer: Signal
