NVIDIA announced on Thursday that Jensen Huang has resigned as president and chief executive officer, effective immediately. The company also confirmed that Huang stepped down from its board of directors. Colette Kress, the current executive vice president and chief financial officer, has been appointed as interim CEO.
Kress to Lead Search for Permanent Successor
In a statement, NVIDIA said Kress will continue her duties as executive vice president and chief financial officer while serving as interim chief executive officer. The board stated it is initiating a search for a permanent chief executive officer and will consider both internal and external candidates.
The leadership shakeup also includes the appointment of Harvey Jones as the company’s first-ever chair of the board. Jones previously served as CEO and executive chairman of electronic design automation company Synopsys. He emphasized the board’s confidence in the current leadership team.
“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. “She is supported by an experienced leadership team that has been instrumental in executing NVIDIA’s strategy and advancing its technology roadmap. The Board has full confidence in Colette and the leadership team, and we expect the company’s operations, customer commitments and product roadmap to continue without interruption.”
Resignation Follows Scandal and Investigation
Huang’s departure comes days after the NVIDIA board announced it would investigate him. This decision followed Huang’s admission that he had an affair with a former tech executive who was accused of being a Chinese intelligence asset. At the time, the board stated it had “no reason to believe that either national security or NVIDIA secrets were compromised.”
President Donald Trump stated that the FBI is also investigating the matter. The New York Times later reported that Huang had also had an affair with an NVIDIA executive who reported to him. The report claimed the two were seen “being affectionate” at a hotel during a company conference earlier this year. According to the report, a bystander who recorded the interaction was offered a nondisclosure agreement by Huang’s security detail.
In a memo to employees earlier this week, Huang apologized for his actions. He wrote that leading the company was “the privilege of my life” and that he was “committed to protecting NVIDIA and supporting America’s national security.” He added that he was “fully committed to NVIDIA” and would “work to earn back your confidence.” The resignation means he will not have the opportunity to do so.
End of an Era for NVIDIA Founder
Huang co-founded NVIDIA in 1993 and served as CEO for over three decades. He transformed the company from a 3D graphics firm into an AI powerhouse valued at more than $4 trillion. His departure marks a stunning turn for the company, which has become a linchpin for the artificial intelligence industry.
As NVIDIA’s stock price rose, Huang became a prominent public figure in the technology sector. He often appeared at industry events, usually wearing his signature black leather jacket, alongside other tech leaders such as Mark Zuckerberg and Satya Nadella. Huang held a more positive view on AI technology compared to some high-profile researchers who have raised alarms about superintelligence. He argued against increased regulation of the industry and stated that America should not restrict China’s access to US-made chips.
Huang had frequently been seen with President Trump and was one of several tech leaders to accompany him on a recent trip to China. When asked about the recent revelations, the president said he believed Huang was “an honorable guy” and that he “probably has an excuse for it.” The board is now tasked with finding a permanent replacement for the company’s long-time leader.
Source: Engadget
