Jensen Huang resigns as Nvidia CEO after 33 years; Colette Kress named interim chief

Jensen Huang, the co-founder who built Nvidia into the world’s most valuable artificial intelligence chipmaker, resigned on Thursday as its president and chief executive, bringing a 33-year run at the top to an abrupt end. Nvidia said Huang had stepped down from all three of his roles — president, chief executive and board member — with immediate effect. Chief Financial Officer Colette Kress will serve as interim chief executive while the board searches for a permanent successor.

Shares slide as board moves

Nvidia shares fell more than 10 percent in early trading after the announcement, dragging the wider market with them. Reports said the board had met on Wednesday to consider removing Huang. The company also named Harvey C. Jones, a former Synopsys chief executive and board member, as its first-ever chairman. Huang, who owns about 3.6 percent of Nvidia and is its fourth-largest investor, will not remain on the board.

The controversy behind the exit

The resignation follows days of mounting reports about Huang’s personal life. He was reported to have had a relationship with Alice Huang, a Singapore-based technology executive whom US intelligence officials suspect of spying for China. On November 8, Huang sent a message to employees acknowledging that he had been unfaithful to his wife and apologising to his family and colleagues. The same day, the board said independent directors, assisted by outside lawyers, would investigate whether Huang had been the target of a foreign intelligence operation. A separate report said he had also had an affair with Kimberly Powell, a senior Nvidia executive who reported to him.

What happens next

The board said it would consider internal and external candidates for the permanent job, with no timeline given. US President Donald Trump said former Apple chief Tim Cook should replace Huang. Nvidia is due to report its third-quarter results on November 17, the first big test of Kress’s interim leadership. In its statement, the board thanked Huang for what it called his immeasurable contributions to the company and the industry.