After an independent review found no misconduct by the board or audit committee, shares of Super Micro Computer (SMCI, Financials) rose about 30% on Monday. The Nvidia partner (NVDA, Financials) will replace its CFO in line with improvements in governance.

The special committee’s review, initiated after auditor Ernst & Young resigned over governance and internal control issues, found there was no need for financial adjustments. Since then, Super Micro has hired BDO USA as its new auditor and sent Nasdaq a compliance report aimed at stopping the delisting.

Within three months, the assessment found significant procedural deficiencies, but there was no evidence to support Ernst & Young’s claims. Former vice president of finance Kenneth Cheung was appointed chief accounting officer in accordance with the committee’s recommendations. To improve governance, the company intends to appoint a new general counsel, chief compliance officer and chief financial officer.

Super Micro does not plan to restate financial reporting for fiscal year 2024 or any other years; It intends to meet Nasdaq’s listing criteria within the stipulated deadline.

Super Micro was particularly close to Nvidia and integrated its GPUs into its server systems to enable the use of artificial intelligence and machine learning. This collaboration has improved Super Micro’s position in the artificial intelligence server market.

This article first appeared on GuruFocus.