Nvidia’s board and interim CEO Colette Kress told employees they’re ready to ‘move forward together.’
Nvidia’s board and interim CEO Colette Kress told employees they’re ready to ‘move forward together.’
Jensen Huang resigned as CEO of Nvidia this morning, a company he co-founded in 1993. The decision came following the company’s board opening an investigation into multiple extramarital affairs Huang had with a direct report and an alleged Chinese spy. The new, and first, Chair of the Board, Harvey Jones, shared news of Huang’s resignation with the company in an email, which also announced CFO Colette Kress as interim CEO.
You can read the full text of the board’s internal memo and Kress’s first message to employees as interim CEO below.
Subject: Statement from NVIDIA Board Chair
I am writing to share an important update. Jensen has resigned as CEO and Board Member, and the Board has asked our Chief Financial Officer Colette Kress to serve as interim CEO while it conducts a search for a permanent successor looking at both internal and external candidates. I will serve as the first-ever Chair of the Board.
As CFO for over 13 years, Colette has been a key architect of NVIDIA’s growth and capital strategy. She possesses a deep understanding of this business and the markets in which we operate. The Board has full confidence in Colette to deliver on our commitments to shareholders, customers, partners, and to each of you.
Jensen’s contributions to NVIDIA are profound. NVIDIA is one of the most consequential technology companies in the world. We pioneered accelerated computing, defined the modern GPU, and built the platform that powered artificial intelligence.
The Board takes seriously our duty as stewards of this great company.
The strength of this company resides in our employees, leadership team, technical strength and partner ecosystem. I am confident that under Colette’s leadership, with the full support of the Board, we will continue to grow our business, and lead the industry forward. Thank you for your focus, your professionalism, and your commitment to NVIDIA.
Colette Kress’ first email to Nvidia employees as interim CEO:
Subject: RE: Statement from NVIDIA Board Chair
I believe deeply in this company and in its future. More than anything, I believe in each of you, in our customers and partners and in the vital role we play every day in the global economy.
The Board, Estaff and I recognize that this has been an extraordinarily difficult period and I want you to know how grateful we are for your resilience, professionalism and continued dedication. Thank you.
This company has achieved so much because of the work that all of you bring to it every single day. You are our greatest strength. You will hear more from leadership in the coming days about our future together, and we will host a company meeting on November 18 at 9am PT.
We play a vital role in building the technology that is powering the AI revolution, and we have important work ahead of us. So let’s move forward together, with the same determination and commitment that have always defined this company.
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