The board of directors announced Jensen Huang's departure after reports detailing a second affair deepened an ongoing scandal around the executive. To maintain stability, Colette Kress will take over as interim chief executive while continuing her foundational work guiding the company through a period of significant growth. Longtime board member Harvey Jones will support the transition after being elected as Nvidia's first-ever chair of the board. Jones emphasized that Kress brings an essential, comprehensive understanding of the firm's operations, finances, and customer relationships.
Key points
Interim CEO Colette Kress previously helped steer the technology firm through a period of…: Interim CEO Colette Kress previously helped steer the technology firm through a period of significant business and financial growth.
Board member Harvey Jones noted that Kress possesses deep knowledge regarding Nvidia's on…: Board member Harvey Jones noted that Kress possesses deep knowledge regarding Nvidia's ongoing business, operations, customers, and financial standing.
The company overhauled its top corporate governance structure by electing its first board…: The company overhauled its top corporate governance structure by electing its first board chair in response to the leadership vacancy.
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Colette Kress to act as interim Nvidia CEOpublished at 13:59 GMTBreaking
More now on the news that Jensen Huang has resigned as chief executive of Nvidia, announced by its board of directors moments ago.
Colette Kress has agreed to serve as interim CEO, the board says. She had already been the company's current executive vice president and chief financial officer.
"Colette has helped lead Nvidia through a period of extraordinary growth and has a deep understanding of our business, customers, operations and financial position," says Harvey Jones of the board of directors in the statement, who the company says has been elected as its first-ever chair of the board.
We'll bring you more from Nvidia's statement shortly.
Personal controversies involving an alleged Chinese spy and a fellow corporate executive have abruptly forced out the co-founder of the world's most valuable microchip supplier. His sudden departure has injected fresh volatility into global financial markets and disrupted a corporate pillar of American technological competitiveness. The abrupt leadership vacuum threatens stability across an industry heavily dependent on the company's advanced hardware.
The unexpected leadership departure removes the primary architect behind the chipmaker's ascent to artificial intelligence dominance. Market observers express concern because significant corporate decision-making was concentrated within the founder, compounding apprehension ahead of the company's next earnings release. The leadership void also arrives amid a broader market rout across the artificial intelligence sector.
The former chip executive's departure places significant attention on an expansive legal network built for long-term tax and estate planning. Because major transactions require dual consent, the shared governance structure prevents sudden liquidations that could otherwise rattle the market. This co-ownership model creates unusual stability for the company's equity despite the executive leadership transition.