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Huang Renxun's personal security expenses increased by 756%, and Nvidia responded that it was "reasonable and necessary"

Shulou Source: shulou.com Published: 2023-11-24 16:46:23 10月03日 Update

Thanks to CTOnews.com netizen updata for clue delivery! CTOnews.com May 14 news, Nvidia recently released the fiscal year 2023 report ended January 29, Nvidia CEO Huang Renxun's overall salary has declined, but in terms of security spending has increased significantly by 756%.

In the most recent fiscal year, Huang's personal security costs were about $700,000, according to the financial report, of which $669005 (CTOnews.com notes: currently about 4.656 million yuan) was used to pay for security costs and the rest was used to pay for his pension plan.

Nvidia said in comments after the earnings release:

Consistent with common practice among large multinational companies and in accordance with our executive security program developed by our Board of Directors based on anticipated third-party security assessments, NVIDIA provides personal security protection to our CEO.

We require authorized personnel to be present at Mr. Huang's residence and require Mr. Huang to commute to work and attend business meetings in a Nvidia rented car driven by a security driver or picked up by an authorized car service company. We also conduct ongoing third-party assessments to monitor and help determine Mr. Huang's overall security needs.

We do not consider these additional safety arrangements to be in Mr. Wong's personal interest as they arise from the nature of his job responsibilities and the associated costs have been incurred in accordance with the requirements of the Board to implement the safety plan. In FY2023, Mr. Huang's security arrangements included residential security, security monitoring services, and down payments and monthly fees for Nvidia's rental cars.

We believe these arrangements are reasonable, necessary and in the best interests of Nvidia and its shareholders as they enable Mr. Huang to focus on his duties to the company while ensuring that he and his family are not exposed to security threats.