Jensen Huang has resigned as NVIDIA’s CEO following reports of two affairs, one with a company executive and another with a woman identified by U.S. officials as an alleged Chinese spy. Chief Financial Officer Colette Kress will serve as interim CEO.
NVIDIA shares fell sharply in premarket trading after the announcement, adding to the chipmaker’s losses this month.
NVIDIA Appoints Colette Kress as Interim CEO
NVIDIA said in a press release that Huang, 63, stepped down as president, CEO, and board member, effective immediately. “The Board is initiating a search for a permanent Chief Executive Officer and will consider internal and external candidates,” the statement read.
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Colette Kress, NVIDIA’s current Executive Vice President and Chief Financial Officer, has agreed to serve as Interim Chief Executive Officer. Kress will continue as Executive Vice President and Chief Financial Officer while serving as Interim Chief Executive Officer until the company names a permanent successor.
“NVIDIA’s strength has always come from its people, and together with our leadership team, I am committed to building on the extraordinary foundation Jensen created over the last 33 years,” said Kress in a press release. “We will continue advancing the work that has made NVIDIA a leader in accelerated computing and AI, and execute on the opportunities ahead. Our focus remains on serving our customers, partners, developers and shareholders.”
The Board of Directors also appointed Harvey C. Jones as its first-ever Chair. Mr. Jones has been an entrepreneur, technology executive, and active venture investor for over 30 years, including serving as Chief Executive Officer and Executive Chairman of Synopsys.
Colette Kress’s Career at NVIDIA
Kress joined NVIDIA in 2013 as executive vice president and chief financial officer. Before that move, she spent 13 years at Microsoft and three years as CFO of a Cisco business division. Forbes placed Kress at No. 32 on its 2026 list of America’s Richest Self-Made Women, estimating her net worth at $1.2 billion as of June 3, 2026.
Her tenure as finance chief overlapped with NVIDIA’s shift from making graphics processors to supplying the central chips behind the global AI boom.
Jensen Huang’s Resignation After Affairs
Jensen Huang, NVIDIA’s chief executive, resigned on Thursday after revelations that he had an affair with an executive who reported to him and with a woman US officials had identified as a Chinese spy.
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People who spoke on the condition of anonymity to describe sensitive information said the previously undisclosed relationship was with Kimberly Powell, NVIDIA’s vice president of health care. NVIDIA’s code of conduct tells employees to avoid situations where their actions create conflict, including personal relationships, and says the company promptly investigates reports of misconduct. Many corporations bar managers from having relationships with subordinates.
The American multinational technology company shares plunged Thursday, sending tremors through global markets as Huang stepped down. Shares fell more than 11 percent in premarket trading, extending a decline set to wipe roughly $1 trillion from the company’s market value this month alone.
Rapid growth in data centre revenue and a larger role in AI infrastructure helped lift the company’s stock market valuation.
