Nvidia CEO Jensen Huang resigns, CFO Colette Kress named interim chief
Jensen Huang stepped down as Nvidia chief executive amid scandal, with CFO Colette Kress assuming interim leadership while the board searches for a permanent replacement.
Nvidia announced on Thursday that chief executive Jensen Huang has resigned following reports of two extramarital affairs, one involving a woman suspected by U.S. authorities of acting for Chinese intelligence. Huang, who co-founded the company, will also leave the board, where former Synopsys chief Harvey Jones has been appointed chair.
Chief financial officer Colette Kress will serve as interim CEO while the board evaluates internal and external candidates. In a memo to staff, Kress said the company has faced an "extraordinarily difficult period" and will hold a meeting on Nov 18 to discuss next steps.
The resignation comes as Nvidia, a key supplier of AI chips, has been under scrutiny for its push to relax U.S. export controls on semiconductor sales to China. Commerce Secretary Howard Lutnick has faced questions about his oversight of chip exports, and senior White House officials are reportedly discussing whether he should be removed. A White House official said President Donald Trump "maintains complete confidence in the secretary and his ability to carry out the position."
Shares of Nvidia fell about 4.8% after the news, while rivals AMD and Broadcom each rose roughly 6%. Analysts noted that the company's technology roadmap remains largely intact, but execution risk could increase without Huang's coordination role.
President Trump praised Huang's contributions to the United States and said the former executive told him he was unaware that the Chinese woman involved was a spy. Trump also suggested former Apple chief Tim Cook as a possible successor.
U.S. House Speaker Mike Johnson emphasized the importance of selecting a successor amid growing congressional interest in tightening chip export limits to China.
The scandal has prompted investigations by the Justice Department and Singapore authorities into alleged links between a former Nvidia partner and Chinese intelligence, as well as a separate probe into potential smuggling of AI components by Super Micro Computer.