Jensen Huang resigns from Nvidia as Colette Kress takes interim CEO role
Harvey C. Jones becomes board chair as the chipmaker searches for a permanent chief executive.
Nvidia’s board announced that co-founder Jensen Huang had stepped down immediately as president, CEO and a director, ending 33 years leading the chipmaker. Chief financial officer Colette Kress will serve as interim CEO during the search for his replacement.
Harvey C. Jones becomes board chair. Kress said she was committed to working with Nvidia’s leadership team to build on Huang’s work. The board thanked Huang for his contributions without addressing the allegations surrounding his departure.
The resignation followed the board’s decision to open an independent investigation, when it also expressed confidence in Huang’s leadership. The Wall Street Journal subsequently reported that Nvidia was preparing to dismiss him.
Nvidia shares dropped as much as 10% following news of the resignation. Huang leaves with a stake of about 3.6% in the company, which is scheduled to report quarterly earnings on November 17.
Bloomberg reported that an outside firm is assembling candidates for the permanent CEO position.
