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Bessent says Nvidia must 'go outside the company' to find new CEO - Finance news and analysis from Global Banking & Finance Review
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Bessent says Nvidia must 'go outside the company' to find new CEO

Published by Global Banking & Finance Review

Posted on November 15, 2026

2 min read

· Last updated: November 15, 2026

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Bessent: Nvidia Should Go Outside for New CEO After Huang's Sudden Exit

Nvidia Faces Leadership Crisis After Huang's Departure

Background on Huang's Resignation

WASHINGTON, Nov 15 (Reuters) - US Treasury Secretary Scott Bessent on Sunday said Nvidia needs to "go outside the company" as it seeks a new chief executive after Jensen Huang abruptly stepped down last week.

Huang stepped down on Thursday after revelations of extramarital affairs, including one involving a suspected Chinese spy, plunging the chipmaker into crisis.

Bessent's Recommendations for Nvidia's Board

Call for External Leadership

"This makes me think that as the board conducts a search for a new leader that they need to go outside the company, that just (with) what was going on inside the company, they need a dramatic shakeup," Bessent told Fox News' "Sunday Morning Futures" show.

Compliance and Governance Concerns

Bessent also said Nvidia's board and outside counsel needed to answer, within the next 10 days, questions about the company's culture of compliance with export restrictions.

Potential Successors and Board Actions

Approaching External Candidates

Interest in Arm Holdings CEO Rene Haas

Nvidia's board has approached British chipmaker Arm Holdings CEO Rene Haas in its search for a potential replacement for Huang, the Financial Times said on Friday.

Ongoing Reporting

(Reporting by Douglas Gillison; Writing by David Ljunggren; Editing by Sergio Non and Louise Heavens)

Key Takeaways

  • Bessent said Nvidia must ‘go outside the company’ to find new leadership amid a dramatic culture reset, following Huang’s resignation over extramarital affairs tied to national‑security concerns (including a suspected Chinese spy) (apnews.com).
  • He also demanded that Nvidia’s board and its outside counsel address internal compliance with export restrictions—and answer those questions within the next 10 days—as multiple U.S. agencies had previously pushed to blacklist partner Megaspeed over security concerns (apnews.com).
  • The board has already approached Arm Holdings CEO Rene Haas as a potential external successor; Haas is among several candidates, and Colette Kress is serving as interim CEO (live.euronext.com).

References

Frequently Asked Questions

Why did Jensen Huang step down as Nvidia's CEO?
Jensen Huang resigned after revelations of extramarital affairs, including one with a suspected Chinese spy.
What did Scott Bessent recommend for Nvidia's CEO search?
Scott Bessent recommended that Nvidia look outside the company for its next CEO to ensure a dramatic shakeup.
Who has Nvidia's board approached as a potential CEO replacement?
Nvidia's board has reportedly approached Arm Holdings CEO Rene Haas as a possible replacement.
What concerns did Bessent raise about Nvidia's internal culture?
Bessent questioned the company's culture of compliance with export restrictions and called for answers from the board and outside counsel.
How much time did Bessent give Nvidia's board to respond to compliance questions?
Bessent said Nvidia's board should answer compliance questions within the next 10 days.

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