Jensen Huang Resigns as Nvidia CEO and Board Member, Effective Immediately
Nvidia's finance chief will lead the company on an interim basis while shares dropped nearly 12% in early trading.
Nvidia's board has accepted the resignation of Jensen Huang as president, chief executive and director, effective immediately, after reports of affairs including one with an alleged Chinese intelligence asset. CFO Colette Kress will serve as interim CEO while the board searches for a permanent successor from inside or outside the company. Harvey C. Jones, a former Synopsys CEO, has been named the company's first-ever board chair. Nvidia's shares fell sharply in early trading, and the board said it would consider both internal and external candidates for the top job.
Why it matters
The abrupt exit of the company's longtime chief executive leaves Nvidia without a permanent leader while its shares fall sharply. Investors and the wider technology industry now watch whether the board names a successor from inside or outside the company, and how the new Chair, Harvey C. Jones, shapes its direction. Until that choice is made, the interim arrangement, with the CFO also acting as CEO, is the company's leadership structure.
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