Jensen Huang resigns as Nvidia CEO, Colette Kress named interim chief

Jensen Huang has resigned as chief executive of Nvidia and from its board, effective immediately, the company announced on Thursday, 12 November, in a filing with the US Securities and Exchange Commission. CBS News also reported the announcement.

Colette Kress, Nvidia's chief financial officer, will serve as interim CEO while keeping her finance role. The board is looking at internal and external candidates for a permanent successor.

Harvey C. Jones, a former CEO of chip design firm Synopsys, becomes the company's first board chair.

"The board has full confidence in Colette and the leadership team," Jones said, adding that operations would continue "without interruption." Kress said her focus remained on "serving our customers, partners, developers and shareholders."

The filing gives no reason for Huang's departure.

An investigation, then a resignation

The resignation follows days of reports about Huang's personal relationships, The Korea Herald reported.

According to the Herald, Huang admitted to an affair with a former executive at a Singapore-based company, whom US intelligence officials reportedly suspect of working for China. Those suspicions have not been confirmed. The New York Times also reported that he had a relationship with an Nvidia vice president who reported directly to him.

The board launched an independent investigation into possible national security concerns before Thursday's announcement, the Herald reported. Nvidia said it had no reason to believe its trade secrets or US national security had been compromised.

Market reaction

Nvidia's shares fell more than 10 percent in US premarket trading on Thursday, according to the Herald.

The company, whose chips power much of the world's artificial intelligence boom, said its third-quarter results will be released as planned on 17 November.