As Nvidia probes Jensen Huang affair, here's the board member likely to play a big role

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Nvidia CEO Jensen Huang is facing an internal investigation after admitting to an affair with a Chinese businesswoman who U.S. intelligence agencies believe is a Chinese spy.

While the company has not yet named specific investigators, that probe is being helmed by the board with help from outside counsel, according to Nvidia. Lawyer Stephen Neal is the board's lead independent director and head of corporate governance, likely making him a key figure in the investigation.

In a statement, Nvidia's board said it has "no reason to believe that either national security or Nvidia secrets were compromised," though it will examine all evidence. China has dismissed the espionage claims. Huang, one of the most powerful businessmen in the artificial intelligence boom, said he would "cooperate fully" with the process.

Yet the probe has sparked uncertainty around Huang's future at the chipmaker and raised concerns of broader ripple effects to companies in the tech sector that are exposed to the AI build-out.

In a Monday note, Citi analysts wrote that one of the key issues for investors moving forward will be "potential governance implications" and "increased regulatory scrutiny" as the company navigates the investigation.

Leading the probe

Nvidia's board has 10 independent members, including a former president of Taco Bell, a former Eli Lilly executive and a former vice chairman from Goldman Sachs. Neal, who joined Nvidia's board of directors in 2019, is a chairman emeritus and senior counsel of the law firm Cooley LLP, where he also served as CEO from 2001 to 2008.

Neal did not immediately respond to a request for comment.

It won't be his first corporate governance probe. According to Cooley, Neal has litigated cases across securities, bankruptcies, antitrust, takeovers and more. And he's conducted several investigations for multiple boards of directors, including at General Motors, where he advised the company in disputes with Ross Perot.