Trump Endorses Former Apple CEO Tim Cook To Replace Jensen Huang As Nvidia CEO: 'A Legend Replaces A Legend'

(MENAFN- Live Mint) Hours after Nvidia CEO Jensen Huang tendered his resignation from the chief executive officer (CEO) position amid the spy affair scandal, US President Donald Trump said, "A legend should replace a legend," and endorsed former Apple Inc. chief executive Tim Cook's name.

"NOW THAT Nvidia CEO JENSEN HUANG, who has done a fantastic job, has resigned, there is only one man to take his place – TIM COOK of Apple. A Legend replaces a Legend! (sic)," Trump said.

While President Trump's public endorsement of Tim Cook drew widespread attention, neither Nvidia nor Appl has issued an official statement regarding Cook's potential cross-company migration

Cook stepped down after a 15-year stint as Apple's CEO in September and is now executive chairman at the iPhone-maker.

The tech giant has appointed the company's Chief Financial Officer, Colette Kress, as the interim CEO and said the "board has initiated a search for a permanent CEO."

Nvidia has also restructured its governance, appointing Harvey C Jones as the company's first-ever Chair of the Board. Seeking to reassure investors ahead of its third-quarter fiscal 2027 results, scheduled for November 17, Jones said,“The Board has full confidence in Colette and the leadership team, and we expect the company's operations, customer commitments and product roadmap to continue without interruption.”

Also Read | Nvidia turns to CFO Kress to steady ship after Huang exit

Interim CEO Colette Kress also expressed confidence in the company's direction, stating, "We will continue advancing the work that has made NVIDIA a leader in accelerated computing and AI, and execute on the opportunities ahead."

What led to Jensen Huang's exit?

Huang, who co-founded the tech giant, has been embroiled in the controversy ever since reports claimed he had an extramarital affair with a Chinese businesswoman whom US authorities suspect of spying for Beijing.

Days after Huang admitted to having an extramarital affair with Alice Huang, a former executive at the Singapore-based data centre firm Megaspeed, fresh controversy brewed over another alleged extramarital affair with a company employee, Kimberly Powell, Nvidia's Vice President of Healthcare.

Also Read | Nvidia turns to CFO Kress to steady ship after Huang exit

The company's official statement doesn't mention the reason for Jensen's resignation. However, under Nvidia's bylaws, Huang can be removed "with or without cause" by a majority vote of the directors, Reuters reported earlier.

Quick answers to key questions

.4 QUESTIONS1Who did Donald Trump endorse to replace Jensen Huang as Nvidia CEO?⌵

Trump endorsed Tim Cook, described in the article as Apple's former CEO. He said,“A legend replaces a legend.”

2Has Nvidia appointed Tim Cook as its permanent CEO?⌵

The articles do not say that Nvidia appointed Cook. Trump's statement was an endorsement; Nvidia named Colette Kress interim CEO while its board considers a permanent successor.

3Who is Nvidia's interim CEO after Jensen Huang stepped down?⌵

Nvidia CFO Colette Kress was appointed interim CEO. She will continue as CFO while the company considers its next leadership steps.

4Why did Jensen Huang step down as Nvidia CEO?⌵

The articles say Huang stepped down amid controversy over reports of two affairs, including one involving a businesswoman suspected by US authorities of ties to Chinese intelligence.

“Jensen's contributions to Nvidia are profound. Nvidia is one of the most consequential technology companies in the world. The board and the company thank Jensen for his immeasurable contributions to the company and the industry,” the board said in the statement.

Under Huang's leadership, Nvidia has witnessed an extraordinary surge in its stock value, with shares climbing more than 700,000% since the company went public in 1999. Its market capitalisation has at times crossed $5 trillion, placing it among the world's most valuable companies. The scale of Nvidia's growth surpasses the achievements of other tech industry icons, including Apple's Steve Jobs, Microsoft's Bill Gates and Amazon's Jeff Bezos.

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