Nvidia names interim CEO after Huang resigns

Nvidia’s chief financial officer, Colette Kress, became the company’s interim chief executive officer on November 12. She steps into the role after co-founder Jensen Huang resigned from both the CEO post and the board of directors. The leadership change followed a board investigation into Huang’s personal relationships, which included direct reports and an individual alleged to be a Chinese spy.

Huang co-founded Nvidia in 1993. The board initiated the review process regarding his extramarital affairs. Harvey Jones, who has served on the board, was appointed as the first Chair of the Board. Jones is responsible for overseeing the search for a permanent successor to Huang. The board indicated it will consider both internal and external candidates for the role.

In an internal memo to employees, Jones described the transition. He stated that Kress has been a key architect of the company’s growth and capital strategy during her 13 years as CFO. Jones expressed the board’s confidence in her ability to deliver on commitments to shareholders, customers, and partners. He noted that Huang’s contributions to the company’s development of accelerated computing and GPUs were profound.

Kress addressed the workforce in a reply to Jones’s email. She acknowledged that the recent events have been an extraordinarily difficult period for the staff. She thanked employees for their resilience and professionalism during the transition. Kress emphasized her belief in the company’s future and its role in the global economy.

The interim CEO stated that the company plays a vital role in building technology that powers the artificial intelligence revolution. She instructed employees to expect more updates from leadership in the coming days. The company will hold a general meeting on November 18 at 9:00 a.m. Pacific Time. This meeting will provide a forum to discuss the path forward.

The board’s decision to appoint Kress was made to ensure stability during the search for a permanent leader. Jones served as the point of contact for the announcement, leveraging his new role as Chair to communicate the board’s stance. The company remains focused on its core business operations while the leadership transition proceeds.

Kress’s appointment marks the first time a financial officer has held the top executive position at Nvidia. The company continues to operate under the guidance of the new board chair and the interim CEO. Employees were told to maintain their focus on work while the leadership team finalizes its plans for the future.