Jensen Huang stepped down from all his leadership and board roles on Thursday after the board convened to evaluate his removal. The controversy centers on reports of two affairs, including one involving a subordinate executive and another with a Chinese businesswoman suspected of espionage. To maintain operational continuity, Executive Vice President and Chief Financial Officer Colette Kress has assumed the role of interim chief executive while keeping her current finance duties.
Key points
The leadership transition arrives abruptly just days before the company announces its thi…: The leadership transition arrives abruptly just days before the company announces its third-quarter fiscal 2027 financial results.
The board has commenced a formal search process to identify a permanent chief executive o…: The board has commenced a formal search process to identify a permanent chief executive officer from internal and external candidate pools.
Jensen Huang retains substantial influence over the enterprise as its fourth-largest inve…: Jensen Huang retains substantial influence over the enterprise as its fourth-largest investor with an approximate 3.61 percent stake.
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Nvidia CEO Jensen Huang resigned on Thursday following reports of two alleged affairs. One reportedly involved a Chinese businesswoman suspected by US authorities of spying for Beijing.
"Board of Directors announced today that Jensen Huang has resigned as president, chief executive officer, and a member of the board, effective immediately," Nvidia's offical statement read.
"Jensen’s contributions to NVIDIA are profound. NVIDIA is one of the most consequential technology companies in the world. The Board and the company thank Jensen for his immeasurable contributions to the company and the industry," it added.
According to the board, chief financial officer Colette Kress will take over as interim CEO while the company searches for a permanent successor.
Huang, who co-founded Nvidia and is its fourth-largest investor with a stake of about 3.61%, will also step down from the board.
Nvidia's board met on Wednesday to consider his removal, a person familiar with the matter said. The meeting followed reports earlier in the day alleging that Huang had also been involved in an extramarital affair with a senior company executive who reported directly to…
Longtime leader Jensen Huang stepped down after a company inquiry revealed multiple extramarital relationships, including one with a direct report and another involving an alleged Chinese spy. The sudden leadership vacuum at the semiconductor giant comes as leadership reorganizes governance to stabilize internal morale and external partner confidence. Chief Financial Officer Colette Kress has taken over immediate operations to guide the chipmaker through the fallout.
The maker of Claude AI is seeking a market capitalization of up to $1.4 trillion in its forthcoming public debut on the Nasdaq. This listing will translate into massive windfalls for executive leadership who guided the artificial intelligence company through its latest phase of rapid corporate expansion. The massive valuation reflects strong institutional demand for major foundational AI developers entering the public market.
The chipmaker's board faced an immediate leadership void following allegations involving personal relationships with an alleged foreign spy and a direct subordinate. To stabilize the approximately $3.8 trillion firm, directors turned to their long-tenured finance chief as they search for a permanent successor. Her immediate challenge will involve reassuring investors and addressing company strategy during an upcoming quarterly financial report.