It has been confirmed that Park Hyun-jo, Chairman of Future Asset Group, has joined a signature campaign demanding the return of former NVIDIA CEO (Chief Executive Officer) Jensen Huang. Future Asset Group, led by Chairman Park, holds approximately 17.44 million shares of NVIDIA stock through its U.S. subsidiaries and other entities.
According to financial investment industry sources on the 15th, Chairman Park participated in "Stand with Jensen," an online petition supporting the return of former CEO Huang. The petition demands that former CEO Huang be reinstated until clear evidence emerges showing that his dismissal is in the best interest of the board of directors.
A Future Asset Group official stated, "(Chairman Park) is known to agree with Stand with Jensen," adding, "Future Asset does not hold NVIDIA shares under its own account, but agrees with Stand with Jensen for the purpose of protecting customers and investors."
Former CEO Huang stepped down from his position on the 12th (local time) after it was revealed that he had extramarital relationships with Alice Huang, who has been identified as a Chinese spy, and other company executives. The NVIDIA board of directors has appointed Colette Kress, NVIDIA CFO (Chief Financial Officer), as interim CEO.
Chairman Park's agreement to the petition for former CEO Huang's return is interpreted as being influenced by Future Asset Group's stake in NVIDIA. After the related scandal was first reported on the 9th, NVIDIA's stock price fell by 12.75%. This represents an evaporation of approximately 770 trillion won based on market capitalization. Calculated based on Future Asset Group's holdings, this resulted in an unrealized loss of approximately $414.9 million, or about 560 billion won in Hanwha terms.
Meanwhile, the petition for former CEO Huang's return has been joined by NVIDIA shareholders and current and former employees, including Elon Musk, CEO of SpaceX and Tesla; Tim Sweeney, CEO of Epic Games; Gary Tan, CEO of Y Combinator; Aidan Gomez, co-founder of Cohere; Brad Gastner, CEO of Ultimate Capital; and Gavin Baker, founder of Arca Management. As of 4:30 p.m. on the day, the cumulative number of signatories exceeded 140,000.
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