Nvidia CEO Jensen Huang Resigns After 33 Years; CFO Colette Kress Named Interim Chief

Yugcharan News / 13-11-2026

Nvidia co-founder Jensen Huang has resigned as the company’s president, chief executive officer (CEO) and a member of its board of directors with immediate effect, bringing an end to his 33-year leadership of the global chipmaker. The company announced the leadership change on Thursday, November 12, amid mounting scrutiny over reports concerning Huang’s personal relationships and questions surrounding possible national security implications.

Nvidia Chief Financial Officer (CFO) Colette Kress will take over as interim CEO while the company searches for a permanent successor. The board has also appointed Harvey C Jones as its first-ever chairman. Huang will no longer hold an executive position or a seat on the company’s board.

The sudden departure of one of the most influential figures in the global semiconductor and artificial intelligence industries has raised questions about Nvidia’s leadership and the potential impact on investor confidence. The company, however, has said that its operations, customer commitments and product roadmap are expected to continue without interruption.

Nvidia shares came under pressure following the announcement. The stock declined by more than 13 per cent in pre-market trading on Thursday before recovering some ground after the market opened. It was trading at $161.78, nearly 8 per cent below its previous closing price of $173.73 on Nasdaq.

Colette Kress to Lead Nvidia on an Interim Basis

Kress, who has served as Nvidia’s CFO since September 2013, will assume responsibility as interim CEO while continuing in her existing role as executive vice president and chief financial officer.

She has led the company’s finance organisation for more than a decade and has extensive experience in the technology sector. Before joining Nvidia, Kress spent nearly 25 years working in finance positions at technology companies, including Cisco and Microsoft.

The company’s newly appointed board chairman, Harvey C Jones, expressed confidence in Kress and the existing leadership team. He said her experience and understanding of Nvidia’s business, customers, operations and financial position made her suitable to lead the company during the transition.

Jones also indicated that the board expects the company’s day-to-day activities and strategic commitments to continue as planned.

Kress said she would work closely with the leadership team to build on Nvidia’s existing foundation. She added that the company would remain focused on serving customers, partners, developers and shareholders.

Meanwhile, Nvidia’s board has reportedly begun the process of identifying a permanent CEO. Both internal and external candidates are being considered as part of the succession process.

Resignation Follows Reports of Personal Relationships

Huang’s resignation came after reports concerning two alleged extramarital relationships attracted attention and placed the Nvidia co-founder under increased scrutiny.

One of the reports involved Alice Huang, a businesswoman who has been suspected by US intelligence officials of working for Chinese intelligence. The other concerned Kimberly Powell, a senior Nvidia executive who reportedly reported directly to Jensen Huang.

The allegations involving Powell gained wider attention after The New York Times reported on Wednesday that Huang had been involved in a separate relationship with the executive, who serves as Nvidia’s vice president of healthcare.

The newspaper cited five people who had worked at the company in its report. Nvidia and Powell did not immediately respond to requests for comment. Reuters said it could not independently verify the allegations.

The developments added to the pressure surrounding Huang at a time when the company was already facing questions linked to national security and its business relationships.

Earlier in the week, Huang apologised to Nvidia employees for being unfaithful to his wife. In a message published by the company, he acknowledged that his actions had hurt his wife and children and said there was no excuse for his conduct.

He also addressed concerns relating to the company and said he remained committed to Nvidia and would work to regain the confidence of those associated with it.

Nvidia Board Orders Independent Investigation

Alongside the leadership transition, Nvidia’s independent directors have initiated an investigation into whether Huang may have been targeted as part of a foreign intelligence operation.

The company said the inquiry was intended to examine the national security concerns surrounding the reports. Earlier in the week, Nvidia’s board appointed Joon H Kim, a former acting US Attorney for the Southern District of New York, and his law firm, Wachtell, Lipton, Rosen & Katz, to conduct an independent investigation.

The inquiry follows reports linking Huang to Alice Huang, who previously held an executive position at Megaspeed, a Singapore-based cloud company.

US intelligence officials suspect Alice Huang of working for China’s Ministry of State Security. These suspicions have added a national security dimension to the controversy, although the allegations have not been established as facts.

Megaspeed has also faced scrutiny because of allegations that it helped China obtain advanced artificial intelligence chips that are restricted under US export controls.

The company is an Nvidia cloud partner and has access to its chips. The allegations concerning the transfer of restricted technology have drawn attention because of the wider US restrictions on China's access to advanced semiconductor technology.

China has denied the espionage allegations. The independent investigation appointed by Nvidia's board is expected to examine the concerns surrounding the reported connections and determine whether Huang was targeted by a foreign intelligence operation.

The available information does not establish that Huang or Nvidia knowingly participated in any intelligence operation or violation of export controls. The allegations remain subject to scrutiny and investigation.

Nvidia Shares Decline Amid Leadership Uncertainty

The announcement had an immediate effect on Nvidia’s stock performance, with shares falling more than 13 per cent in pre-market trading on Thursday.

Nvidia had closed Wednesday’s trading session at $173.73. After the initial decline, the stock recovered partially when markets opened and was trading at $161.78, representing a fall of close to 8 per cent compared with the previous close.

The company’s shares also declined by around 7 per cent in early trading in Frankfurt, according to Reuters.

The market reaction reflects uncertainty surrounding the sudden departure of a long-serving chief executive at a company that has become central to the global artificial intelligence industry.

Huang co-founded Nvidia and led the company for 33 years, overseeing its development into one of the world's most influential semiconductor businesses. Its chips have become important components in the infrastructure supporting artificial intelligence systems and data centres.

The leadership transition comes at a particularly significant time for investors, as Nvidia prepares to announce its third-quarter fiscal 2027 financial results.

Nvidia Earnings Announcement to Go Ahead as Scheduled

Despite the sudden change at the top, Nvidia has confirmed that its third-quarter fiscal 2027 results announcement and earnings call will take place as scheduled on November 17.

The company has indicated that its business operations, commitments to customers and product roadmap are expected to continue without interruption during the leadership transition.

Kress’s experience within Nvidia and her long tenure overseeing its financial operations are likely to be important as the company navigates the immediate period following Huang’s departure.

The board’s search for a permanent CEO will be closely watched by investors and the technology industry. The choice of Huang’s successor will be significant for a company whose business has become closely associated with the rapid expansion of artificial intelligence.

For now, Kress will lead Nvidia while the board considers candidates for the permanent position. At the same time, the independent investigation into the national security concerns will proceed separately from the leadership transition.

Huang’s resignation marks a major change for Nvidia after more than three decades under his leadership. With a new interim chief executive, a newly appointed board chairman and an ongoing investigation, the company faces a period of heightened attention from investors, regulators and the wider technology industry.