Nvidia CFO Resigns for ''Personal Reasons''
Nvidia CFO David White has stepped down and will be replaced by Karen Burns.
Nvidia reports that chief financial officer (CFO) David White has resigned from the company for personal reasons, and will remain as a Nvidia employee through May 31, 2011.
Taking his place as interim CFO will be 43-year-old Karen Burns who currently serves as corporate controller and vice president of tax. Previously she served 10 years as head of Nvidia's tax department, holding a "variety of titles."
Before signing on with Nvidia, Burns served nine years in tax and audit roles with KPMG, a global public accounting firm, in its Atlanta, London and Silicon Valley practices. She holds bachelor's and master's of accounting degrees from Florida State University, Nvidia said.
As for 55-year-old David White, he joined Nvidia in February 2009 after leaving Sanmina-SCI Corp as the company's CFO. Jen-Hsun Huang, Nvidia president and chief executive officer, said he was grateful for the counsel and leadership White provided over the last few years. But he also quickly pointed to Burns' expertise in the same breath.
"Karen is a broadly respected veteran of Nvidia and knows our business well," he said. "Her experience, her understanding of our business and her leadership will be a tremendous asset to us during this transition."
A spokesperson for Nvidia said that the company had no further comments about White's departure. However, Bloomberg reports that Nvidia stock dipped almost 6.5-percent in extended trading following the announcement. "Nvidia fell 54 cents to $17.66 at 4 p.m. New York time in Nasdaq Stock Market composite trading," Bloomberg said.