Jensen Huang, the founder who propelled Nvidia to become one of the world’s most valuable companies, has resigned from his role as chief executive after 33 years.
Chief Financial Officer Colette Kress has been appointed interim chief executive, Nvidia’s board said Thursday , as it considers internal and external candidates as a permanent replacement.
The announcement ends several days of whirlwind speculation about Huang’s future in the wake of a stunning corporate scandal.
“Colette has helped lead NVIDIA through a period of extraordinary growth and has a deep understanding of our business, customers, operations and financial position,” said Harvey Jones, who was also named Nvidia’s first-ever board chair in the Thursday announcement. Jones added that the board expects “the company’s operations, customer commitments and product roadmap to continue without interruption.”
Kress will also continue to serve in her current role executive vice president and CFO until Nvidia finds a permanent CEO.
The leadership shakeup came days after the board said it would investigate whether Huang was the target of a foreign intelligence effort amid reports of his relationship with a woman US officials believe is a Chinese spy, and shortly after the New York Times reported that the CEO also had an affair with an executive who reports to him. Huang on Sunday admitted to having an extramarital affair, without naming the other party, and apologized to his family and colleagues.
The exit marks a sharp fall from grace for Huang, who is largely responsible for kicking off the AI boom. The chips made by the company he founded in 1993 have become critical to the AI infrastructure, putting Nvidia at the center of the AI buildout and thrusting Huang into President Donald Trump’s inner circle.
Nvidia shares dropped more than 10% in pre-market trading on Thursday.
Nvidia called Huang’s contributions to the company “profound” and thanked him for his “immeasurable contributions to the company and the industry.”
This is a developing story and will be updated.
