Nvidia Has Not Hired Headhunters for Huang's Successor, Arm CEO Haas Emerges as Potential Candidate

Nvidia Corp. has not hired an executive search firm to find a permanent successor for former CEO Jensen Huang, despite reports that Arm Holdings, Inc. CEO Rene Haas has emerged as a potential candidate.

Nvidia Has Not Launched Formal CEO Search

"Nvidia's board is in the process of selecting a search firm for the CEO position. We have not formally approached any potential candidates," the Nvidia board said in an email statement.

It added: "Any speculation about individual internal or external candidates is premature."

CNBC first reported the development.

Huang stepped down Thursday following multiple alleged extramarital affairs, one involving a woman suspected of ties to Chinese intelligence agencies. The company subsequently appointed Chief Financial Officer Colette Kress as interim CEO.

According to a person familiar with the matter, Kress held her first meeting with senior executives at Nvidia's headquarters in Santa Clara, California, on Thursday.

Arm CEO Rene Haas Emerges as Potential Successor

The Financial Times reported Friday that Nvidia's board has approached Haas regarding the succession. However, there is no guarantee he will receive or accept an offer.

Haas worked at Nvidia for seven years before joining Arm in 2013. He became Arm's CEO in 2022 and oversaw its Nasdaq listing in 2023.

Other names discussed by industry observers include Advanced Micro Devices, Inc. CEO Lisa Su, Micron Technology, Inc. CEO Sanjay Mehrotra, Marvell Technology Inc. CEO Matt Murphy, and Apple Inc. hardware chief Johny Srouji.

Former Apple CEO Tim Cook was also mentioned by President Donald Trump.

Nvidia Employees Push for Huang's Return

Meanwhile, Wired magazine reported that an internal post urging Nvidia's board to consider employee sentiment before deciding Huang's fate has attracted over 1,600 comments, with multiple employees advocating for his return.

Billionaire Elon Musk also said on X that he would sign a petition seeking Huang's reinstatement, though it remains unclear whether he was referring to the same employee-led initiative.

Stock movement: On Friday, Nvidia shares fell 2.01% to close at $162.85. Edge stock rankings place Nvidia's momentum metric in the 11th percentile and growth metric in the 98th percentile, while its short-term, medium-term, and long-term price trends remain bearish.