On November 8, EST, Nvidia's founder and CEO Wong In-hoon acknowledged the affair in a letter to employees and apologized to the board of directors, employees, and global shareholders. Nvidia's board of directors has announced that an investigation will be initiated by independent directors and external lawyers. Bloomberg reports that as the co-founder of Nvidia, Wong In-hoon is known for his hands-on, tireless management style. The company has yet to announce a clear succession plan, and Hwang In-hoon has not clearly designated a successor. He has repeatedly expressed his desire to continue leading Nvidia for decades to come, and has established an informal organizational structure around himself. Dan Ives, partner and senior managing director of American investment agency Yorkville Ives, said: “Obviously, based on the Board's findings, Wong In-hoon may be removed from the position of CEO.”

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