Jensen Huang, co-founder and CEO of Nvidia, who led the company for 33 years, has abruptly resigned following controversy over his private life. Nvidia appointed Chief Financial Officer (CFO) Colette Kress as interim CEO and immediately entered emergency management mode.
In a statement on Nov. 12 (local time), Nvidia's board of directors officially announced that Huang had resigned effective immediately as president, CEO and a member of the board. Kress, currently executive vice president and CFO, will also serve as interim CEO until a permanent successor is appointed, while board member Harvey C. Jones has been named the company's inaugural board chair. The board has begun searching for a permanent CEO, considering both internal and external candidates.
The abrupt resignation is believed to have followed an independent investigation by the board into the recent controversy surrounding Huang's private life and subsequent discussions about his future at the company.
Huang acknowledged and apologized for an extramarital relationship in an internal message on Nov. 8. However, additional allegations subsequently emerged involving other inappropriate relationships with executives who reported directly to him. The board is currently conducting an intensive investigation extending beyond ethical concerns to potential national security issues and possible leaks of confidential company information.
The market reacted immediately to news of the founder's sudden departure. Nvidia shares plunged more than 10% in premarket trading in New York shortly after the resignation announcement, sharply dampening investor sentiment.
Kress, who has stepped in as interim CEO, is a veteran finance executive with approximately 25 years of experience at companies including Cisco and Microsoft. Since joining Nvidia in September 2013, she has overseen the company's finance organization and supported its explosive growth. Newly appointed Chair Jones has more than 30 years of experience as a technology executive and venture investor. He previously served as CEO and executive chairman of Synopsys, an electronic design automation (EDA) company.
“Colette has been part of Nvidia's period of rapid growth and possesses a deep understanding of the company's business, operations and finances,” Jones said. “With the support of our experienced leadership team, business operations, customer commitments and existing product road maps will continue without interruption.”
“Nvidia's core competitive strength has always come from its employees,” Kress said. “Working with the management team, we will further build on the strong foundation established over the past 33 years, firmly maintain our leadership in accelerated computing and artificial intelligence (AI), and make protecting value for our customers and shareholders our top priority.”
Meanwhile, Nvidia's board expressed gratitude in its statement, saying Huang had “made immeasurable contributions to building Nvidia into one of the world's most influential technology companies.”
The company plans to report its third-quarter fiscal 2027 earnings, covering August through October, as scheduled on Nov. 17 at 1:20 p.m. Pacific Standard Time, followed by a conference call at 2 p.m.
