Jensen Huang, the co-founder and long-serving CEO of Nvidia, has resigned from his position as President, Chief Executive Officer, and a member of the company's board of directors, effective immediately. The announcement, made on Thursday, November 12, 2026, marks the end of Huang's 33-year tenure leading the artificial intelligence chipmaking giant.
Nvidia's board has appointed Executive Vice President and Chief Financial Officer Colette Kress as interim CEO. Kress will continue in her CFO role while the company conducts a search for a permanent successor, considering both internal and external candidates. Following the news, Nvidia shares reportedly extended their losses, dropping by 10%.
Leadership Transition Amidst Unconfirmed Reports
While Nvidia's official statement did not provide a reason for Huang's departure, it follows unconfirmed reports that the board was deliberating his future. These reports cited allegations of multiple extramarital affairs, including one reportedly involving a woman suspected of spying for China.
Huang co-founded Nvidia in 1993 and is credited with transforming the company into a dominant force in AI computing. Under his leadership, Nvidia's share price saw an extraordinary surge of over 700,000%.
Colette Kress Steps Up as Interim Chief
Colette Kress joined Nvidia in September 2013 and has been instrumental in leading its finance organization, contributing significantly to the company's growth and expansion. Prior to Nvidia, Kress amassed nearly 25 years of experience in finance roles at prominent technology firms, including Cisco and Microsoft.
Harvey Jones, who was simultaneously appointed as Nvidia's first-ever Chair of the Board, expressed confidence in Kress. He stated, "Colette has helped lead NVIDIA through a period of extraordinary growth and has a deep understanding of our business, customers, operations and financial position." Kress affirmed her commitment to building upon Huang's legacy and reinforcing Nvidia's leadership in accelerated computing and artificial intelligence.
The board has assured stakeholders that Nvidia's operations, customer commitments, and product roadmap will continue without interruption. The company also confirmed that its third-quarter fiscal 2027 financial results will be announced as scheduled on November 17.