Jensen Huang resigns as Nvidia CEO with immediate effect; Colette Kress named interim chief

Nvidia Corporation announced on Thursday that Jensen Huang has resigned as President, Chief Executive Officer and a member of its board of directors, effective immediately, marking the end of his 33-year leadership of the artificial intelligence chipmaking giant.

In an official statement, Nvidia said its board has appointed Executive Vice President and Chief Financial Officer Colette Kress as interim CEO. Kress will continue serving as CFO until a permanent successor is appointed.

The company has initiated a search for its next chief executive, considering both internal and external candidates. Nvidia shares reportedly extended losses to 10% following the announcement.

Leadership shake-up amid controversy

Huang's resignation follows reports that Nvidia's board was deliberating his future amid allegations of multiple extramarital affairs, including one involving a woman suspected of spying for China.

Bloomberg earlier reported that the board was working with an outside firm to identify potential replacements and evaluating the possibility of appointing an interim chief executive.

However, Nvidia's official statement did not disclose the reason for Huang's departure or link it to the reported allegations.

Huang, who co-founded Nvidia in 1993, transformed the company into a dominant player in artificial intelligence computing. Under his leadership, Nvidia's share price surged more than 700,000%, according to Bloomberg.

Who is Colette Kress, Nvidia's interim CEO?

Kress joined Nvidia in September 2013 and has since led its finance organisation, playing a key role in the company's growth and expansion.

Before joining Nvidia, she spent nearly 25 years in finance roles at leading technology companies, including Cisco and Microsoft.

"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 Nvidia's Board of Directors.

Harvey Jones appointed first-ever board chair

Nvidia also announced the appointment of Harvey C. Jones as its first-ever Chair of the Board.

Jones has more than 30 years of experience as an entrepreneur, technology executive and investor, including serving as CEO and Executive Chairman of Synopsys.

Kress said she remained committed to building on Huang's legacy and strengthening Nvidia's leadership in accelerated computing and artificial intelligence.

The board expressed confidence that Nvidia's operations, customer commitments and product roadmap would continue without interruption.

The company also confirmed that its third-quarter fiscal 2027 financial results would be announced on November 17, as previously scheduled.

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