Las especulaciones sobre el posible reemplazo del CEO de NVIDIA han provocado una caída brusca en sus acciones… ¿Qué pasó en casos anteriores? / 0904 Cripto News

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[Report by Kim Young-jae from Mexico] The possibility of Jensen Huang, CEO of NVIDIA, being removed from his position has led to a sharp drop in the company’s stock price. Some analysts have warned that if CEO Huang resigns before a successor is appointed, the stock price could fall by 20%. Similar past cases have also shown a prolonged decline in stock prices following CEO changes.

According to a report by BiInCrypto on the 12th (local time), the NVIDIA board of directors is considering removing CEO Huang, which caused the stock price to fall by 7.80% in after-hours trading. CEO Huang has led NVIDIA for 33 years since its founding.

In four previous cases of CEO removal, the stock price declined within a year in three of them.

BiInCrypto analyzed past CEO removals at Intel, McDonald’s, HP, and WinRizzo.

On the day Brian Krzanicki resigned as Intel’s CEO in 2018, the stock price fell by 2.4%. Over the following year, Intel’s stock price dropped by 11.7%, while the S&P 500 index rose by 6.8%.

McDonald’s, which removed Steve Easterbrook as CEO in 2019, saw a different outcome: the stock price fell by 2.7% immediately after the removal but rose by 9.6% a year later, outperforming the S&P 500 index by 7.9%.

The difference between these companies lies in their succession plans; Intel appointed its CFO as interim CEO, while McDonald’s promoted Chris Kempczynski, the head of its U.S. operations, to the position immediately.

HP’s stock price fell by 29.5% in the year following Mark Hurd’s resignation in 2010. WinRizzo also saw a 19.5% drop in the same period.

Semaphor reports that some NVIDIA directors prefer the appointment of CFO Collette Kress as interim CEO.

Jin Munster, an analyst at DeepWater, analyzed that companies led by founders without a clear second-in-command face a 20% risk of performance adjustment.

A 2021 study by Paul Parra and Hui Li found that companies where highly capable CEOs were forced to leave experienced abnormal negative returns over the following three years.

NVIDIA’s stock price has risen by approximately 267% in the past three years. However, compared to the closing price six days ago, it has fallen by about 14% at the current after-hours trading price of $160.18.

The possibility of the founder selling their shares is also being discussed.

The absence of a clear successor and the founder’s shareholding situation are significant factors.

According to Semaphor, some NVIDIA directors favor appointing CFO Collette Kress as interim CEO.

A 2021 study by Paul Parra and Hui Li found that companies where capable CEOs were removed experienced abnormal negative returns over the following three years.

NVIDIA’s stock price has risen by about 267% in the past three years. However, it has fallen by about 14% compared to the closing price six days ago, at the after-hours trading price of $160.18.

The possibility of the founder selling their shares is also being considered.Según Reuters, Steve Win vendió su participación del 11,8% por 2.100 millones de dólares siete semanas después de su renuncia.

Por otro lado, según CNBC, la participación de CEO Huang en Nvidia es de aproximadamente el 3,6%, y una parte considerable de ella está vinculada a un fideicomiso conjunto con su cónyuge. CNBC considera que esto representa un factor de estabilidad para los accionistas. BiInCrypto señaló que hay solo cuatro casos anteriores de este tipo y que hay limitaciones para una comparación directa debido a las diferencias en el tamaño de las empresas. También añadió que si el sucesor se determina antes del anuncio de resultados el 17 de este mes, la posibilidad de una comparación con Intel o HP podría disminuir.