Nvidia board has appointed Chief Financial Officer Colette Kress as interim CEO after Jensen Huang resigned trailed by sexual and espionage scandals.
The leadership change, announced on Thursday, November 12, 2026, comes amid controversy surrounding reports of Huang’s alleged relationships with two women, including one suspected by US authorities of having links to Chinese intelligence.
The board had previously launched an independent investigation into whether the company’s founder was targeted by a foreign intelligence operation.
In a regulatory filing, Nvidia disclosed that its board accepted Huang’s resignation as president, CEO and board member on Wednesday, November 11, with immediate effect.
The company said Kress would retain her position as executive vice president and CFO while overseeing its operations until a permanent successor is appointed.
The board is expected to consider both internal and external candidates as it begins the search for a new chief executive.
The development also comes with a change in the company’s board leadership, as Nvidia appointed longtime director Harvey C. Jones as its first-ever board chair.
Jones, who joined the board in 1993, brings more than three decades of experience in technology, entrepreneurship and venture investment.
Huang’s departure follows mounting scrutiny over reports of his alleged relationship with a Singapore-based businesswoman identified in media reports as Alice Huang, whom US authorities reportedly suspect of having links to Chinese intelligence.
The controversy intensified after reports emerged that Huang also had an extramarital relationship with a senior Nvidia executive. Huang subsequently acknowledged having an affair in a statement on Sunday, apologising to his family and colleagues.
On November 8, Nvidia’s board announced an independent investigation into reports that its founder had been the target of a foreign intelligence operation. The investigation is being overseen by a committee of independent directors with assistance from external legal counsel.
At the time, the board said it had no reason to believe that Nvidia’s trade secrets or US national security had been compromised, adding that Huang had pledged to cooperate fully with the investigation.
Although Nvidia did not explicitly identify the controversy as the reason for Huang’s resignation in its announcement, the leadership change comes against the backdrop of the unfolding allegations and investigation.
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Huang co-founded Nvidia in 1993 alongside Chris Malachowsky and Curtis Priem, initially building the company around graphics processing technology for computer gaming.
Under his leadership, Nvidia expanded beyond gaming graphics into artificial intelligence, data centres, accelerated computing and other advanced technology markets.
A significant milestone came in 2006 with the introduction of CUDA, a software platform that enabled developers to use Nvidia’s graphics processing units for general-purpose computing. The technology helped establish the company’s position in high-performance computing and artificial intelligence.
The subsequent explosion in demand for AI computing infrastructure, particularly following the emergence of generative AI applications such as ChatGPT in 2022, further strengthened Nvidia’s position in the global technology industry.
Its graphics processing units have become essential components in the development and operation of advanced AI models, making the company one of the biggest beneficiaries of the global artificial intelligence boom.
Nvidia’s growing influence also elevated Huang into one of the most prominent figures in the technology industry, with the chief executive frequently engaging policymakers and industry leaders over artificial intelligence development and semiconductor trade restrictions.
His departure has consequently raised questions about the company’s leadership direction and the potential implications for an industry increasingly dependent on its technology.
Nvidia shares fell sharply following the announcement on Thursday, with Reuters reporting a decline of more than 12% as investors reacted to the unexpected leadership transition.
Analysts have also raised concerns about the potential impact of Huang’s exit on Nvidia’s business relationships, strategic direction and partnerships across the AI ecosystem, given his central role in shaping the company’s long-term vision.
Kress, who joined Nvidia in September 2013, has served as its executive vice president and chief financial officer for more than 13 years. Before joining the company, she held senior finance positions at major technology firms, including Cisco and Microsoft.
Her appointment places an experienced executive at the centre of Nvidia’s leadership transition as the board works towards finding a permanent successor.
In announcing the appointment, Jones expressed confidence in Kress and the company’s existing leadership team, saying they would maintain Nvidia’s operations, customer commitments and product development plans without interruption.
Kress also pledged to build on the foundation established under Huang, reaffirming the company’s commitment to advancing accelerated computing and artificial intelligence.
Nvidia is expected to announce its third-quarter fiscal 2027 financial results on November 17, as previously scheduled, providing investors with an opportunity to assess the company’s performance during the leadership transition.
Huang’s resignation marks the end of a 33-year leadership era at Nvidia, leaving the company to navigate a significant corporate transition at a time when its technology remains central to the global AI industry.
Reuters
