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

Key points

• Huang, who co-founded Nvidia and led it for 33 years, resigned as president, CEO and board member effective immediately, Nvidia said on 12 November.
• CFO Colette Kress, in the role since 2013, becomes interim CEO and keeps the CFO job while the board searches inside and outside the company.
• Nvidia shares fell 7.7% to $160.28 after the open on Thursday, having traded as low as $148.80, per Yahoo! Finance data.

The departure follows reports about Huang's personal conduct. Four days before stepping down, he told staff in a letter that he had been unfaithful to his wife, prompting an independent board investigation. China has denied the allegations. The Times also reported on 11 November a relationship with Kimberly Powell, an Nvidia vice president who reports to him.

The board also appointed Harvey Jones, former CEO and executive chairman of Synopsys, as its first chair. Jones said the board had full confidence in Kress and expected operations, customer commitments and the product roadmap to continue without interruption. Kress said she would build on the foundation Huang created. Nvidia will report third-quarter results as scheduled on 17 November.

What to watch: Nvidia reports third-quarter results as scheduled on 17 November, and the board is still searching for a permanent CEO.

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