Key Highlights

• Ajay K. Puri will leave his EVP role after 21 years, remaining as senior advisor pending his successor’s start.

• Nicholas Parker will join Nvidia with a base salary of $1,000,000 and a $5,000,000 sign‑on bonus.

• The new EVP’s equity grant includes RSUs worth $35,000,000 and performance‑based RSUs valued at $5,000,000.

Nvidia (NASDAQ: NVDA) reported a senior leadership transition on June 28, 2026, announcing the retirement of long‑time executive Ajay K. Puri. The company confirmed that Puri will continue in an advisory capacity to support continuity.

Retirement Announcement

Puri, who has served Nvidia for over two decades, indicated his departure will take effect when his replacement begins employment. The arrangement secures a smooth handover for the Worldwide Field Operations function.

New Executive Arrival

Effective upon his start date, projected for August 24, 2026, Nicholas Parker, 55, will assume the role of Executive Vice President, Worldwide Field Operations. Parker arrives after a 26‑year tenure at Microsoft, most recently overseeing the company’s global sales and solutions business.

Compensation Overview

Parker’s annual base compensation is set at $1,000,000, complemented by a sign‑on cash payment of $5,000,000. He is also eligible for target cash variable compensation of $1,500,000 under Nvidia’s Fiscal 2027 Variable Compensation Plan, prorated for the year.

Equity Awards

The appointment includes two equity components. Restricted stock units with a target market value of $35,000,000 will vest over a standard four‑year schedule. Additionally, multi‑year performance‑based RSUs valued at $5,000,000 will vest based on total shareholder return relative to the S&P 500 over three years.

Both awards are governed by Nvidia’s Amended and Restated 2007 Equity Incentive Plan.

Benefits and Indemnity

Parker will join the same benefit programs offered to peers in similar positions. He will also sign the company’s indemnity agreement, providing protection against certain legal expenses arising from his executive duties.

Strategic Context

The leadership change aligns with Nvidia’s effort to broaden its AI infrastructure dominance and grow the surrounding ecosystem. Parker’s experience in enterprise and partner sales is expected to reinforce Nvidia’s global field operations as the firm continues to scale its AI offerings.

This article is for informational purposes only and does not constitute financial advice. Please consult a licensed financial adviser before making investment decisions.