Michael Wright is stepping away as the chairman of Evidentia, a $40 billion-plus managed accounts player owned by ASX-listed Generation Development Group.
Evidentia Group chairman Michael Wright is vacating the role amid staff ructions at the $41.7 billion managed accounts player.
Last year, Wright was tasked with leading the combined Lonsec investments business and Evidentia as the chief executive, after both were acquired by ASX-listed Generation Development Group in its quest to branch out from its bread-and-butter business of selling tax-effective investment bonds.
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Interim CEO Colette Kress and board chair Harvey Jones emailed Nvidia employees, expressing gratitude for "resilience, professionalism and continued dedication
The reported move comes amid allegations of two extramarital affairs and scrutiny over Huang’s links to a Chinese businesswoman suspected of facilitating restricted chip shipments to China.
Huang’s potential departure would leave a leadership vacuum at the roughly $4tn chipmaker he co-founded, with Nvidia’s shares sliding about 8% in after-hours trading
Nvidia says no secrets were compromised, but experts question what sensitive information may have been exposed.
As soon as Wednesday evening, Nvidia's board could decide to remove its founder and CEO of 33 years.
The FBI is investigating as Nvidia’s board holds urgent talks over Huang’s future.
