Jensen Huang quit as Nvidia chief executive on Thursday. CFO Colette Kress will now serve as interim CEO.
Jensen Huang has resigned as president, chief executive officer and board member of Nvidia, effective immediately, the company’s board announced Thursday, Nov. 12, in a statement also filed with U.S. securities regulators.
The board appointed Colette Kress, the company’s executive vice president and chief financial officer, as interim CEO. Harvey C. Jones was named the first chair of the board. Kress, who joined Nvidia in September 2013, said in the statement that she is committed to building on the foundation Huang created over 33 years.
The resignation follows a crisis in early November, when Huang admitted to having an affair with a technology executive, The National reported. Media outlets, including IT Pro and ABC News, have reported that the woman was a suspected Chinese intelligence asset. Those claims are allegations and have not been independently verified by Aurax News.
After Huang’s admission, Nvidia’s board announced an independent investigation into whether he was the target of a foreign spy operation and what, if anything, was compromised, The National reported. Company representatives initially said Huang would remain chief executive, but pressure on the company grew.
Nvidia shares fell more than 13% in early trading Thursday, ABC News reported. Huang co-founded Nvidia in 1993 with Chris Malachowsky and Curtis Priem, and the company has been central to the artificial intelligence boom. The company and Huang had publicly opposed U.S. chip export restrictions, while supporters of those policies accused Nvidia of putting revenue ahead of national security, The National reported.
Nvidia’s CEO transition announcement (SEC filing), The National, ABC News, IT Pro and The Register