Nvidia shares fell as much as 13% intraday after co-founder and chief executive Jensen Huang resigned following a board investigation into his personal conduct. They ended the week down approximately 12%. Colette Kress, the company’s chief financial officer since 2013, was named interim chief executive while retaining her finance responsibilities, and Harvey C. Jones became Nvidia’s first board chair. A search for a permanent chief executive is underway. The group’s forward price-to-earnings ratio fell to roughly 12 times, its lowest level since 2012, reflecting uncertainty surrounding the leadership change.
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