Bloomberg reports Nvidia board hired an outside firm to search for a new CEO and is weighing an interim

According to Bloomberg on November 12, Nvidia's board is engaging an outside professional firm to search for a new chief executive candidate and is considering naming an interim chief executive while a permanent successor is sought. Earlier US media reports said the board was discussing the future of company co-founder and chief executive Jensen Huang.

People familiar with the matter said the board has partnered with an outside firm to look for possible successors to Huang, and is also considering appointing an interim chief executive while the search for a permanent successor runs. Board members met on November 12 local time to discuss Huang's position, after The Wall Street Journal reported the board was preparing to remove him and might meet as early as Wednesday to decide his future. Nvidia had not responded to the reporting as of publication.

Bloomberg noted the board faces a dilemma: removing Huang would leave the company without a chief executive since its founding, while keeping him risks further scrutiny from US lawmakers, investors, customers and employees. Markets have already reacted, with Nvidia shares down about 8 percent in Wednesday after-hours trading after reports the board was preparing to remove him. Separately, prediction market platform Polymarket said on November 12 that Huang's daughter Madison Huang is a leading candidate to succeed him; she currently serves as senior director of physical AI product marketing at Nvidia, covering platforms such as Omniverse.