Nvidia’s board of directors met on the evening of November 11, 2026, to discuss whether to remove the company’s founder and CEO, Jensen Huang. According to a Reuters report citing a source close to the matter, the meeting came after The Wall Street Journal wrote that the company was preparing to oust Huang. Following the report, Nvidia shares fell more than 8% in after-hours trading.
The meeting contradicts the board’s position from four days earlier. In a statement on November 8, the board announced that it had launched an independent investigation into reports that Huang had been targeted by a foreign intelligence operation, and in the same statement said it had confidence in Huang. The investigation was to be conducted by a committee of independent directors together with outside independent legal counsel. The board said there was no sign that national security or Nvidia’s secrets had been compromised, and Huang had agreed to cooperate with the process.
What the bylaws say
Nvidia’s bylaws give the board the authority to remove the CEO by majority vote, “with or without cause.” On the company’s 11-member board, all directors other than Huang are considered independent. In other words, there is no procedural hurdle standing in the way of a decision; a simple majority is enough.
Huang has led the company for more than 30 years, and there is no clear successor at Nvidia, now valued at roughly $4 trillion. Huang’s roughly 3.6% stake in the company and the dozens of units that report directly to him show that he still holds control over the organization. Bloomberg reported that the board is working with an outside firm to identify possible successors.
Who could replace him
Armina Rosenberg, a portfolio manager at Minotaur Capital, which holds Nvidia shares, said the most natural candidate for an interim solution would be longtime CFO Colette Kress. According to Rosenberg, the real question is who would set the company’s technology roadmap over the long term.
Market reaction
The loss in value since the investigation was announced would reach about $600 billion if the after-hours decline holds. The reaction across the broader market was mixed: Nasdaq futures fell 1%, while Micron dropped about 2% and CoreWeave 6%; rival chipmakers AMD rose 4% and Broadcom 3%. In Asia, Samsung gained about 1%, while SK Hynix slipped nearly 1%.
Analysts do not expect short-term demand for Nvidia chips to fall; they see the risk more in Nvidia-backed customer companies building data centers. Nick Ferres, chief investment officer at Singapore-based Vantage Point Asset Management, pointed to the risks created when a supplier finances its own customers, saying that in the event of a slowdown, that arrangement could turn into a blowup.
Nvidia will report quarterly results on November 17, 2026. Investors will be watching for both the financials and an answer to the still-unresolved leadership question.
Source: Unite.AI
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