Altimeter Capital, Atreides urge Nvidia board not to rush Jensen Huang replacement, seek to keep his CEO return open

Nvidia shareholders Altimeter Capital Management and Atreides Management have urged the company's board to avoid rushing into a leadership change. They said all options, including the potential return of founder Jensen Huang as CEO, should remain open until all facts surrounding recent developments are known.

In a letter to the board, Altimeter CEO Brad Gerstner and Atreides Managing Partner and CIO Gavin Baker said they were writing as shareholders to express a view they believed was widely shared by other shareholders as well.

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Gerstner said in a post on X that the letter had been sent to Nvidia's board and outlined what the investors believed were the minimum standards the board owed shareholders as it navigated the situation.

Given Huang's record of leadership and the uncertainty surrounding recent events, the investors said a slow, measured and deliberate process would serve the best interests of the company and its shareholders.

"There are more questions about recent events than answers," the letter said, cautioning that a rushed replacement could undermine shareholders' interests.

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The investors expressed confidence in interim leadership under CFO Colette Kress and her team, saying the board had sufficient time to make the right decision.

They added that while the board could decide against Huang's return if it found that was not in shareholders' interests, the company's founder and long-time leader deserved a process that did not rush to replace him before all the facts emerged.