NVIDIA Board Says CEO Search Still Stuck at Search-Firm Stage

NVIDIA's board said on November 13, 2026, that it has not formally engaged any candidate to replace Jensen Huang — because it has not even picked the search firm yet. CNBC reported the statement, which came one day after Huang resigned as president, CEO and board member, effective immediately.

The board's exact words: "Any speculation regarding individual candidates, whether internal or external, is premature."

That sentence carries weight because of a competing report. The Financial Times reported on November 13, citing people familiar with the matter, that the board had approached Arm CEO Rene Haas about the job. The board's denial addresses formal engagement only. It leaves open the possibility of informal contact before a search firm is hired — a gap the statement does not close.

Haas knows NVIDIA well. He joined SoftBank-backed Arm in 2013 after seven years at NVIDIA, where his roles included vice president of the computing-products business.

Who is running NVIDIA right now?

Colette Kress holds both the interim CEO post and her existing executive vice president and CFO duties. She took the interim role on November 12, 2026, and will keep both portfolios until the board names a permanent successor.

Kress joined NVIDIA in September 2013 after almost 25 years in technology-finance roles, including stints at Cisco and Microsoft. She held her first meeting as interim CEO on the afternoon of November 12 with senior executives at NVIDIA's Santa Clara, California, headquarters, according to a person familiar with the internal details.

The board also appointed Harvey C. Jones as its first-ever chair. The permanent search will consider both internal and external candidates.

Her dual role matters for one practical reason. The executive who controls NVIDIA's finances now also controls the whole company while the board has not yet hired the firm that will run the succession process.

What happened to the shares?

NVIDIA stock fell more than 2% on November 13, 2026. The drop pushed the company's market capitalization below $4 trillion as investors weighed Huang's abrupt departure and the shape of the transition.

The board moved quickly to frame continuity. Jones said the board expected operations, customer commitments and the product roadmap to continue without interruption under Kress and the leadership team.

Kress separately said NVIDIA would continue advancing its accelerated-computing and AI work, with focus remaining on customers, partners, developers and shareholders.

Why does the November 17 date matter?

Third-quarter fiscal 2027 results are scheduled for November 17, 2026, at approximately 1:20 p.m. Pacific Time. The earnings call follows at 2 p.m. Pacific Time. That release is the next scheduled public checkpoint for the continuity plan.

It will arrive under unusual conditions. Kress will present results while holding both the interim CEO and CFO roles, and the board will still be selecting the firm that will support the permanent search.

What is the real test ahead?

The mechanics of this transition are simple to describe. Huang left on November 12 with no successor in place. Kress absorbed his duties on top of her own. The board has not chosen a search firm, has not defined a timeline and denies engaging candidates — even as the Financial Times reports it approached Haas.

The immediate business issue is whether the existing leadership team can deliver the operational and product-roadmap continuity the board has promised while the permanent succession remains unresolved. The November 17 earnings call will give investors the first chance to judge that promise against results.