Jensen Huang resigns as NVIDIA CEO; CFO Kress takes over

NVIDIA's board announced on Thursday that Jensen Huang has resigned as President, Chief Executive Officer and board member, effective immediately. CFO Colette Kress becomes Interim CEO while keeping her finance post. Harvey C. Jones takes the newly created role of Chair of the Board.

The announcement closed a turbulent week. It followed a Wednesday report by The New York Times that Huang was involved in a second extramarital affair, with NVIDIA's Vice President of Healthcare, Kimberly Powell. That report, according to AFP, prompted a last-minute board meeting. Earlier, Huang had reportedly acknowledged an affair with a woman accused of helping entities circumvent US export restrictions on high-performance chips to China — a disclosure that triggered an internal investigation at the US chipmaker.

Who runs NVIDIA now?

Kress has served as Executive Vice President and CFO since joining the company in September 2013. She has led the finance organization and, in the company's words, played a key role in NVIDIA's growth and evolution. Before NVIDIA, she spent nearly 25 years in finance roles at technology companies including Cisco and Microsoft.

"Kress will continue to serve as Executive Vice President and Chief Financial Officer while serving as Interim Chief Executive Officer until a permanent successor has been named," NVIDIA said in its statement. "The Board is initiating a search for a permanent Chief Executive Officer and will consider internal and external candidates."

Jones, the board's first-ever Chair, brings more than 30 years as an entrepreneur, technology executive and venture investor. He previously served as Chief Executive Officer and Executive Chairman of Synopsys.

What did the board say?

The company framed the handover as continuity, not rupture. Jones anchored his endorsement in Kress's record through NVIDIA's expansion.

"Colette has helped lead NVIDIA through a period of extraordinary growth and has a deep understanding of our business, customers, operations and financial position," Jones said. "She is supported by an experienced leadership team that has been instrumental in executing NVIDIA's strategy and advancing its technology roadmap. The Board has full confidence in Colette and the leadership team, and we expect the company's operations, customer commitments and product roadmap to continue without interruption."

Kress, in turn, stressed the durability of the institution over any single leader. She tied her mandate directly to the founder's legacy.

"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," Kress said. "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 company's own farewell was brief but pointed at scale. "Jensen's contributions to NVIDIA are profound. NVIDIA is one of the most consequential technology companies in the world. The Board and the company thank Jensen for his immeasurable contributions to the company and the industry," NVIDIA said.

What happens next?

Two processes now run in parallel: a CEO search covering internal and external candidates, and the fallout from the reported affairs and the export-control investigation that preceded Huang's exit. Kress's dual role as CFO and interim chief gives the board time, but the permanent appointment will signal whether NVIDIA chooses continuity or a clean break from its founder's 33-year tenure.