Nvidia CEO Jensen Huang resigns amid 'spy' affair; Colette Kress named interim chief

Colette Kress, Nvidia's executive vice president and chief financial officer, has been appointed interim CEO following Jensen Huang's resignation. She will continue to serve as CFO while leading the company until a permanent successor is named.

In Short

• Jensen Huang resigns as Nvidia CEO, president and board member immediately
• Board begins search for permanent CEO, considering all candidates
• Nvidia to announce Q3 fiscal 2027 results on November 17 as planned

Nvidia CEO Jensen Huang has resigned from his positions as president, chief executive officer and board member with immediate effect, the company's board announced on Thursday, amid mounting scrutiny over a reported affair with a woman whom US authorities suspected of having ties to Chinese intelligence. The scandal exploded further on Wednesday after reports emerged of a second affair involving Kimberly Powell, Nvidia's vice president of healthcare, who was said to report directly to Huang.

Huang, who co-founded Nvidia and is its fourth-largest investor with a stake of about 3.61 per cent, saw the company's shares tumble more than 13 per cent, putting Nvidia on course to lose about USD 500 billion in market value and dragging the global AI-linked stocks.

Colette Kress, Nvidia's Executive Vice President and Chief Financial Officer, has been appointed interim CEO. She will continue to hold the CFO position while leading the company until a permanent successor is named.

The board has initiated a search for a permanent CEO and will consider both internal and external candidates.

WHO IS COLETTE KRESS?

Kress joined Nvidia in September 2013 and has played a central role in the company's transformation over the past 13 years. Before moving to Nvidia, she spent nearly 25 years in senior finance roles at major technology companies, including Cisco and Microsoft. Her career has largely been built around managing finances at large technology companies, giving her experience in corporate strategy, operations and financial planning.

At Nvidia, she became part of the leadership team during a period in which the company's business changed dramatically. Nvidia's chips, initially best known for powering computer graphics, became increasingly important to the development of AI systems.

Kress said she would focus on maintaining the momentum created under Huang rather than disrupting Nvidia's existing direction.

"Together with our leadership team, I am committed to building on the extraordinary foundation Jensen created over the last 33 years," she said. She added that Nvidia would continue advancing its work in accelerated computing and AI while focusing on its customers, partners, developers and shareholders.

BOARD NAMES NEW CHAIR

In another major leadership change, Nvidia's board appointed 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 venture investor. He previously served as CEO and Executive Chairman of Synopsys.

"Colette has helped lead NVIDIA through a period of extraordinary growth and has a deep understanding of our business, customers, operations and financial position," Jones said. He added that Kress would be supported by an experienced leadership team and that the company's operations, customer commitments and product roadmap would continue without interruption.

Building on the foundation created by Huang, Kress said she was committed to continuing Nvidia’s work in accelerated computing and artificial intelligence.

"Together with our leadership team, I am committed to building on the extraordinary foundation Jensen created over the last 33 years," she said.

The board thanked Huang for his contributions to Nvidia and the technology industry, describing the company as one of the most consequential technology companies in the world.

Nvidia is scheduled to announce its third-quarter fiscal 2027 financial results on November 17 at approximately 1.20 pm Pacific Time, followed by an earnings call at 2 pm PT. The company said the schedule remains unchanged.

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