NVIDIA Announces Resignation of CFO David White
NVIDIA announced today that David White, chief financial officer (CFO), has resigned from the company for personal reasons. He will remain an employee through May 31, 2011. Stifel Nicolas analyst Kevin Cassidy points out in a research note this afternoon that White came to the company in February 2009, a very difficult transition period for Nvidias product line-up and markets. He writes that White chose to resign now so his resignation would have the least impact to the company and its shares. He adds that White is leaving the company with a very clean operating model and balance sheet. We believe the company is poised for margin expansion based on many new products and markets. Karen Burns, 43, who currently serves as corporate controller and vice president of tax, will serve as interim CFO.
“I want to thank David for his many contributions to NVIDIA,” said Jen-Hsun Huang, NVIDIA president and chief executive officer. “I’m grateful for the counsel and leadership he has provided. Karen is a broadly respected veteran of NVIDIA and knows our business well. Her experience, her understanding of our business and her leadership will be a tremendous asset to us during this transition.”
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