NVIDIA CEO Jensen Huang Resigns Over Alleged Affairs
NVIDIA (NASDAQ: NVDA) has named Colette Kress as its new chief executive, effective immediately, after Jensen Huang resigned as President, CEO, and Board member over alleged affairs.
In an official statement, the company said Colette Kress, NVIDIA’s Executive Vice President and Chief Financial Officer, has agreed to serve as Interim Chief Executive Officer.
Nvidia said Kress will continue as Executive Vice President and Chief Financial Officer while serving as Interim Chief Executive Officer until the company names a permanent successor.
The Board is initiating a search for a permanent Chief Executive Officer and will consider internal and external candidates. Kress has served as Executive Vice President and Chief Financial Officer of NVIDIA since joining the company in September 2013.
During her tenure, she has led the company’s finance organisation and has played a key role in NVIDIA’s growth and evolution. Prior to joining NVIDIA, Kress spent nearly 25 years in finance roles at leading technology companies, including Cisco and Microsoft.
The Board of Directors appointed Harvey C. Jones as its first-ever Chair of the Board. Mr. Jones has been an entrepreneur, technology executive, and active venture investor for over 30 years, including serving as Chief Executive Officer and Executive Chairman of Synopsys.
“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, Chair of the NVIDIA Board of Directors.
“She is supported by an experienced leadership team that has been instrumental in executing NVIDIA’s strategy and advancing its technology roadmap.
“The Board has full confidence in Colette and the leadership team, and we expect the company’s operations, customer commitments and product roadmap to continue without interruption.”
“NVIDIA’s strength has always come from its people, and together with our leadership team, I am committed to building on the extraordinary foundation Jensen created over the last 33 years,” said Colette Kress, Interim CEO and CFO, NVIDIA.
“We will continue advancing the work that has made NVIDIA a leader in accelerated computing and AI, and execute on the opportunities ahead. Our focus remains on serving our customers, partners, developers and shareholders.”
Jensen’s contributions to NVIDIA are profound. NVIDIA is one of the world’s most consequential technology companies, the official statement said on Thursday.
NVIDIA will report its third-quarter fiscal 2027 financial results on Tuesday, November 17, at approximately 1:20 p.m. PT, as previously scheduled, followed by its earnings call at 2 p.m. PT.
The Wall Street Journal reported on Wednesday that Nvidia’s board of directors was weighing whether to oust Huang, who has led the company as CEO since he co-founded it in 1993.
The decision came days after Nvidia’s board initially said it would launch an independent investigation into Huang’s relationship with Alice Huang, a Chinese tech executive allegedly recruited by China’s Ministry of State Security.
New York Times reported that China’s Ministry of State Security recruited Alice to spy on the executive and learn more about Nvidia’s AI chips.
It hired Wachtell, Lipton, Rosen & Katz, the firm of former acting U.S. Attorney for the Southern District of New York Joon H. Kim, to lead the investigation.
The stakes for what comes next for Nvidia — and the AI world — are massive. Huang co-founded Nvidia as a graphics chip provider for video games, though he later grew it into one of the world’s most valuable companies by producing chips that helped fuel many of the world’s leading AI companies. Nigeria Eurobonds Yields Ease as Offshore Investors Buy Dollar Debt
