Nvidia CEO Jensen Huang Steps Down Immediately Amid Leadership Shakeup
Nvidia co-founder and CEO Jensen Huang has stepped down immediately amid board scrutiny over personal conduct. CFO Colette Kress has been appointed interim CEO, and Harvey Jones named chairman as shares plunge 11 percent.
Nvidia co-founder and CEO Jensen Huang has stepped down from his positions as president, chief executive, and board member effective immediately, following revelations regarding personal conduct. Longtime Chief Financial Officer Colette Kress has been appointed interim CEO alongside her current responsibilities. The board has initiated a search for a permanent successor and appointed Harvey Jones as the company's first-ever chairman of the board. Nvidia shares plunged 11 percent in pre-market trading following the announcement.
Kress joined Nvidia in September 2013, bringing nearly 25 years of prior financial experience at leading technology firms, including Cisco and Microsoft. In a statement, Kress emphasized her commitment to the company's trajectory, stating that Nvidia's strength has always stemmed from its people and that the executive team remains dedicated to advancing accelerated computing and artificial intelligence. The company confirmed that its financial results for the third quarter of fiscal year 2027 will be released as scheduled on Tuesday, November 17, followed by the traditional investor call.
Leadership Restructuring and Governance
Alongside Kress's appointment, the board named Harvey Jones as chairman, marking the first time Nvidia has established the role. Previously, Huang shared corporate governance oversight with independent director Stephen Neal. Jones brings over 30 years of experience as a technology executive, entrepreneur, and venture capitalist, having previously served as CEO and chairman of Synopsys.
Board Scrutiny Over Conduct
Huang's resignation follows board discussions regarding his conduct after reports emerged detailing two separate relationships outside of marriage. According to reports by The New York Times, Huang engaged in a relationship with a senior Nvidia executive, Kimberley Powell, who serves as vice president of healthcare, alongside a previously disclosed situation involving Alice Huang. Nvidia and Powell have not issued comments regarding the reports, and the company's scheduled financial reporting remains unaffected by the transition.
