Nvidia CFO resigns, citing personal reasons

By Dow Jones Newswires
Posted March 15 at 4:39 p.m.

Nvidia Corp. Chief Financial Officer David White has resigned for personal reasons effective May 31, the graphics-chip maker said Tuesday.

Shares fell 2.1 percent, to $17.29, in early after-hours trading. The company’s stock has fallen 22 percent in the last month through Tuesday’s close.

Nvidia did not disclose White’s plans.

Controller Karen Burns, 43, will replace White as the company’s interim finance chief. Burns previously spent 10 years as head of the company’s tax department. Before working for Nvidia, Burns spent nine years in tax and audit roles with the accounting firm KPMG International.

Nvidia has seen its top line hurt by weak demand, but Chief Executive Jen-Hsun Huang said in November that the company had “turned the corner.” Its chips are used for video and other visually intensive applications.

In January, Intel Corp. agreed to pay Nvidia $1.5 billion over five years under a patent-licensing deal that also ended litigation between the companies. The pact gave Intel rights to all of Nvidia’s patents, while Nvidia received rights to some of Intel’s but not those covering its x86 technology.

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