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Nvidia's board met late Wednesday to decide on CEO Jensen Huang's future after reports emerged of a second extramarital affair — this time with an employee. In a statement issued on Thursday morning, the world's most valuable chip supplier said Huang was resigning as president, CEO and board member, effective immediately. The firm added that current Vice President and Chief Financial Officer (CFO) Colette Kress would become interim CEO. Under Nvidia's bylaws, Huang can be removed "with or without cause" by a majority vote of its 11 directors. The New York Times first reported on the latest scandal, alleging that the 63-year-old Huang had an affair a senior Nvidia executive who reported directly to him.
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