Nvidia’s Jensen Huang Resigns As CEO, CFO Colette Kress To Step In

• CFO Colette Kress will serve as interim CEO while keeping her CFO role
• The board has started a search for a permanent CEO.
• Harvey C. Jones, a former CEO and executive chairman of Synopsys, was named the board’s first-ever chair.

Nvidia (NVDA) announced on Thursday that Jensen Huang has resigned as chief executive, president and member of the board, effective immediately.

The company said chief financial officer (CFO) Colette Kress would step in as interim chief executive officer (CEO), while continuing in her previous role, until a permanent successor is named. 

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Nvidia added that its board plans to consider internal and external candidates for the post.

“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. “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.” 

Harvey C. Jones, a former CEO and executive chairman of Synopsys, was named the board’s first-ever chair.

NVDA stock was down nearly 10% in pre-market trade, on track to hit an over one-year low.

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