Bessent says Nvidia should look outside the company new CEO after Huang: ‘Needs a dramatic shakeup’

Detailed summary

Nvidia should look “outside the company” to replace its CEO, Treasury Secretary Scott Bessent said — but it shouldn’t wait too Huang. Founder Jensen Huang famously had no…

Nvidia should look “outside the company” to replace its CEO, Treasury Secretary Scott Bessent said — but it shouldn’t wait too Huang.

Founder Jensen Huang famously had no succession plan and the board must now push a “dramatic shakeup,” Bessent told Larry Kudlow Sunday on Fox News’ “Sunday Morning Futures.”

The $4 trillion firm also owes the Trump administration answers within 10 days about whether it was profiting off of banned chip sales.

“I want to keep coming back to what was the culture at Nvidia, and were they pressing these seemingly illicit sales to goose their revenues and their earnings?” Bessent said.

“And I think we need answers in the next 10 days from the board and from the outside counsel.”

Huang, 63, resigned last week as president, CEO and director of the company, which he cofounded at a Denny’s in 1993.

His exit followed reports of an affair with Alice Huang, an alleged Chinese spy, as well as a married underling at the company.

“This makes me think that as the board conducts a search for a new leader that they need to go outside the company,” Bessent said. “They needed a dramatic shakeup.”

Huang admitted to the affair Nov. 8 in a staff-wide memo. Three days later, The New York Times reported that he had also had a relationship with an Nvidia executive who reported directly to him.

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