Jensen Huang, Chuck Robbins, Kelly Kramer, Cisco, and Nvidia (16 August, 2019)

# Nvidia founder and CEO Jensen Huang said that artificial intelligence (AI) would drive long-term demand because it is the “single most powerful force of our time,” and that there are more than 4,000 AI startups working with Nvidia. Nvidia Corp. (NASDAQ: NVDA) reported revenues of $2.58 billion, down from $3.12 billion a year ago, for the second fiscal quarter, which ended July 31.

# Mitchell Reichgut has officially stepped down as a chief executive officer of Jun Group, with the chief operating officer and president Corey Weiner taking over as CEO. Headquartered in New York, Jun Group is a mobile advertising company that primarily focuses on video ads and branded content.

# Seven West Media in real trouble: James Warburton has been appointed Managing Director and Chief Executive Officer of Seven West Media Limited, succeeding Tim Worner who has tendered his resignation. Warburton will have a base salary of $1.35 million including superannuation, and he is eligible to receive a maximum of $4.05 million worth of shares. Before his appointment as CEO of Seven West Media, James Warburton was Managing Director and CEO of APN Outdoor. Before his appointment to APN Outdoor, James Warburton was the CEO of Supercars for five years.

# Cisco chief executive Chuck Robbins says sales into the Chinese market have “dropped precipitously” amid a trade dispute between Beijing and Washington. “We don’t know if that’s a short-term thing or a long-term thing.” Chuck Robbins was ranked No. 114 in the CEOWORLD magazine’s ranking of the most influential CEOs in the world 2019.

Chinese government-controlled enterprises are opting to work with local vendors rather than American-owned companies. Cisco’s revenue in China was down 25 percent on an annualized basis in its fiscal fourth quarter. Cisco Chief Financial Officer Kelly Kramer said “While it’s a small part of our business when it falls off that precipitously, it creates a challenge.”

Thanks,

Dr. Amarendra Bhushan Dhiraj
amar@ceoworld.biz
@ceoworld

Executive Insider is a daily roundup for CEOs, CFOs, CIOs, senior management executives, business leaders, high net worth individuals worldwide, and more. CEOWORLD magazine reviews news, analyst reports, insights, and facts each day of the week across 500 industries, 1,200 CEOs across 96 countries.

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