Shareholders Demanded Jensen Huang's Return
Major Nvidia shareholders have sent an official letter to the board of directors demanding a careful succession process that keeps open the possibility of former CEO Jensen Huang's return after he resigned over an affair scandal. Around 110,000 shareholders and employees have joined an online petition, and calls for his return are spreading.
On the 14th (local time), Brad Gerstner, CEO of Altimeter Capital, and Gavin Baker, founder of Atreides Management, announced the letter's delivery via X (formerly Twitter). While stating that "once all the facts are established, it is the board's prerogative to decide that his return is not in the best interest of shareholders," they emphasized that "a hasty decision to replace him before the facts are verified should be avoided." They added that "a slow, deliberate process considering all options, including the possibility of his return, is best for stakeholders and shareholders," stopping short of demanding his immediate reinstatement.
The letter carries weight because of the two investment firms' shareholdings. As of June 30, Altimeter Capital held approximately 9.41 million Nvidia shares, worth around 2 trillion won ($1.4 billion), making it a major shareholder. Atreides Management also holds roughly 1.25 million shares, valued at about 270 billion won.
Support for the former CEO is also emerging within Nvidia. Erwin Cummins, a principal engineer at Nvidia, said in the petition, "His leadership was one of the main reasons I joined Nvidia," adding, "Considering his achievements and importance to the broader community, please bring him back and treat him fairly." Patrick Liu, who introduced himself as senior director of autonomous driving, argued, "The physical AI industry was born and grew out of Jensen Huang's vision."
Nvidia researcher Wei Fang referenced the past case of OpenAI employees demanding the return of CEO Sam Altman, saying, "It showed that the voices of employees matter." He said Nvidia employees should also find ways to express their support internally.
