Jensen Huang resigns as NVIDIA CEO after 33 years, with CFO Colette Kress appointed interim chief as the board searches for a successor

Jensen Huang has resigned as president and chief executive officer of NVIDIA after 33 years at the helm of the technology company, with its board appointing Chief Financial Officer Colette Kress as interim CEO.

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NVIDIA announced the leadership change on Thursday, November 12, saying Huang’s resignation as president, CEO and a member of the board took immediate effect.

The company said Kress, its executive vice-president and CFO, would retain her finance position while serving as interim chief executive until a permanent successor is appointed.

“The Board is initiating a search for a permanent Chief Executive Officer and will consider internal and external candidates,” NVIDIA said in its statement.

Kress joined NVIDIA in September 2013 after spending nearly 25 years in finance positions at technology companies, including Cisco and Microsoft.

In her remarks, she said she was committed to building on the foundation established by Huang during his 33-year tenure.

“NVIDIA’s strength has always come from its people, and together with our leadership team, I am committed to building on the extraordinary foundation Jensen created over the last 33 years,” she said.

The company also announced the appointment of Harvey C. Jones as the first-ever chair of its board of directors.

Jones, who has served on the board since 1993, said Kress had helped lead NVIDIA through a period of significant growth and had a deep understanding of its business, customers, operations and financial position.

He expressed confidence in Kress and the company’s leadership team, adding that NVIDIA expected its operations, customer commitments and product roadmap to continue without interruption.

Huang’s departure comes days after NVIDIA’s board announced an independent investigation following reports that the company’s co-founder had been the target of a foreign intelligence operation involving a Chinese businesswoman with whom he reportedly had a relationship.

In a statement issued on November 8, the board said a committee of independent directors, assisted by external legal counsel, would oversee the investigation.

The board added at the time that it had no reason to believe that NVIDIA’s secrets or national security had been compromised. It also said Huang supported the review and had agreed to cooperate.

The investigation followed a report by The New York Times published in October, which examined claims that Huang had been targeted in a Chinese intelligence operation.

Although the resignation follows the investigation, NVIDIA’s announcement did not state that the probe was the reason for Huang’s departure.

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Huang’s exit marks a major leadership transition for the company, which became one of the world’s most influential technology businesses during his tenure, driven largely by demand for its graphics processing units and artificial intelligence computing technology.