Nvidia Names Harvey Jones First-Ever Board Chair as Jensen Huang Steps Down

what happened

Nvidia has appointed Harvey Jones as its first-ever board chair, the company said on Thursday, at the same time as Jensen Huang's resignation as chief executive. Reuters and WSJ both reported the change.

Jones has sat on the board since 1993, before the chipmaker went public. Reuters says he serves on the audit and nominating and governance committees, while WSJ mentions only the nominating and governance panel.

Earlier in his career Jones led Synopsys as CEO from 1987 and co-founded Daisy Systems in 1981. He has been managing partner at Square Wave Ventures since 2004. WSJ also notes that Nvidia invested $2 billion in Synopsys shares late last year under a wider tie-up.

why it matters

For investors the bigger story is Huang's exit as chief executive rather than the chair appointment. Leadership changes at a major chip designer tend to draw attention to strategy and execution, and investors will look for further detail on the company's plans.

market impact

Nvidia shares: the CEO exit adds uncertainty, while the chair appointment matters less for markets

• ▼NVDA pressure down — uncertainty over leadership and strategy after the CEO exit

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