Nvidia's board of directors said on Thursday that Jensen Huang has resigned as president, chief executive and board member, effective immediately. The announcement ends a 33-year tenure at the company Huang co-founded, and it removes the public face of the artificial intelligence boom at the moment Nvidia is the world's second most valuable company after Apple.
An immediate exit
The resignation followed ten days of disclosures. Huang admitted last week that he had been "unfaithful" to his wife and apologised to her and their children, after reporting that a woman he had a relationship with, Alice Huang, also known as Huang Le, was suspected by US intelligence agencies of being a Chinese asset. The board opened an independent investigation on November 8, overseen by a committee of independent directors with outside counsel. The FBI is also examining whether national security information was compromised. China has rejected the spying allegations.
Then the New York Times reported a second affair, with Kimberly Powell, Nvidia's vice president of healthcare, citing five employees. That report pushed the board to weigh Huang's position. Lawmakers had already demanded that he appear for a closed-door briefing, and House Republicans were considering a subpoena.
Who takes over
Colette Kress, executive vice president and chief financial officer since 2013, becomes interim CEO while keeping the finance job until a permanent successor is named. The board said it will consider internal and external candidates. Harvey C. Jones, a technology executive and venture investor who previously served as CEO and executive chairman of Synopsys, was appointed the board's first-ever chair.
"Colette has helped lead NVIDIA through a period of extraordinary growth and has a deep understanding of our business, customers, operations and financial position," Jones said, adding that the board expects operations, customer commitments and the product roadmap to continue without interruption. Kress said she is committed to building on the foundation Huang created.
Investors wait for November 17
Shares fell 7.5% in after-hours trading after the second affair was reported, having recovered earlier in the day. The stock had already swung through the week as the scandal unfolded. Nvidia reports third-quarter fiscal 2027 results on Tuesday, November 17, as previously scheduled — the first earnings call without its founder, and the first test of whether customers and suppliers treat the transition as routine.
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