Nvidia co-founder Jensen Huang has resigned as chief executive officer after 33 years leading the company, following reports of two extramarital affairs, including one involving a woman suspected by U.S. intelligence officials of having ties to Chinese intelligence. Nvidia announced his departure on November 12, confirming that Chief Financial Officer Colette Kress will serve as interim CEO while the company searches for a permanent successor.
Huang’s resignation as president, CEO, and board member took effect immediately after Nvidia’s directors accepted it on November 11. The announcement followed a Wall Street Journal report that the board was preparing to remove Huang and would meet to determine his future at the company.
Affair Allegations Prompt Board Investigation
On November 8, Huang publicly acknowledged being unfaithful to his wife after reports emerged concerning a relationship with a woman whom U.S. intelligence officials reportedly suspected of working for Chinese intelligence. Nvidia’s board subsequently initiated an independent investigation into whether Huang had been targeted by a foreign intelligence operation.
On November 11, The New York Times reported a second alleged affair involving Kimberly Powell, Nvidia’s vice president of healthcare, who reported directly to Huang. Five Nvidia employees reportedly described the relationship, including an incident in which Huang and Powell were allegedly recorded behaving affectionately at a San Jose hotel.
The allegations prompted congressional scrutiny, with two Republican lawmakers indicating that Huang could face a subpoena if he declined to attend a closed-door briefing. Nvidia had not publicly confirmed that confidential company information had been compromised.
Nvidia Shares Fall Amid Leadership Uncertainty
Nvidia shares declined approximately 8% in after-hours trading on November 11 following reports that the board was considering Huang’s removal. The company’s stock had already fallen approximately 11% over the preceding five trading days, according to market data cited at the time.
Huang maintained an unusually centralized management structure, previously stating that approximately 60 executives reported directly to him. Before his resignation, Bloomberg reported that Nvidia had engaged an external firm to identify potential CEO candidates because the company lacked an obvious successor.
Tesla and SpaceX CEO Elon Musk also commented on Huang’s situation on November 11, posting on X that hiring him would be an honor.
Colette Kress Takes Over as Interim CEO
Kress, Nvidia’s chief financial officer since 2013, will retain her finance responsibilities while serving as interim CEO. The company confirmed that its board would evaluate internal and external candidates for the permanent leadership position. NVIDIA Newsroom
Nvidia also appointed Harvey C. Jones, a director since 1993, as its first board chair. The company said its existing leadership team would continue overseeing operations, customer commitments, and product development during the transition.
Nvidia is scheduled to report its third-quarter fiscal 2027 financial results on November 17. The leadership changes come as the company continues supplying the graphics processors and computing systems used to develop and operate artificial intelligence models.
Featured image credits: Wikimedia Commons
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