The semiconductor maker named Chief Financial Officer Colette Kress to serve concurrently as interim CEO following Jensen Huang's immediate departure. Alongside Kress's appointment, veteran technology executive Harvey C. Jones took over as Nvidia's first-ever chairman of the board. Both executives emphasized that operational commitments and AI roadmaps remain intact ahead of the company's fiscal 2027 third-quarter earnings release on November 17. The board is evaluating both internal and external candidates to identify a long-term leader.
Key points
Long-serving chief financial officer Colette Kress will manage dual executive responsibil…: Long-serving chief financial officer Colette Kress will manage dual executive responsibilities during the search for a permanent replacement.
Technology veteran Harvey C. Jones has assumed the newly created position of chairman of…: Technology veteran Harvey C. Jones has assumed the newly created position of chairman of the board to oversee governance.
Leadership reaffirmed that ongoing customer commitments and core artificial intelligence…: Leadership reaffirmed that ongoing customer commitments and core artificial intelligence strategies will continue without operational disruption.
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Nvidia shares came under heavy selling pressure in Thursday's trade, falling 14.3% to $148.80 after the world's most valuable chipmaker announced a sudden leadership shake-up, with Jensen Huang stepping down as President and Chief Executive Officer (CEO) with immediate effect.
The company announced that its board of directors had accepted Huang's resignation, ending his 33-year tenure at the helm of the chipmaker. Colette Kress, Nvidia's long-serving Chief Financial Officer (CFO), has been appointed interim CEO while the board begins its search for a permanent successor.
The leadership transition has raised concerns among investors about the company's future direction without Huang, who has been instrumental in transforming Nvidia from a graphics chipmaker into a global powerhouse in artificial intelligence (AI) and accelerated computing. Nvidia shares had already plunged nearly 9% in after-hours trading following reports that the board was considering Huang's removal, with the stock extending its losses amid the leadership uncertainty.
Kress, who joined Nvidia in September 2013, will continue to serve as CFO alongside her interim CEO responsibilities until a permanent successor is appointed. The board said it would…
The longtime technology leader is departing after steering the firm through more than three decades of foundational industry shifts. Under his direction, the business expanded beyond its early graphics processing roots to emerge as a dominant force in modern artificial intelligence. His departure marks the end of an era for the semiconductor powerhouse he helped scale globally.
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Longtime Chief Financial Officer Colette Kress has stepped in as interim leader while the board conducts an executive search for a permanent successor. The vacancy opens up high-stakes leadership deliberations, placing both internal technical talent and outside industry heavyweights under consideration. A final appointment will determine the strategic direction of the chipmaker amid rapid technological transformation.