WHAT YOU NEED TO KNOW:

  • Jensen Huang has resigned as NVIDIA’s CEO following a series of scandals involving infidelity and alleged espionage ties to China.
  • Colette Kress, who served as NVIDIA’s executive vice president and chief financial officer (CFO), has been appointed interim CEO.
  • Harvey C. Jones has been named the company’s new chairman of the board, bringing extensive leadership experience from previous positions.

It’s official: Jensen Huang is no longer the president, CEO, or a member of NVIDIA’s board of directors. This comes after he was involved in several infidelity scandals and allegations linking him to espionage activities by the Chinese government.

Early this morning, the technology company issued a statement announcing that Jensen Huang had left NVIDIA, effective immediately. As a result, major changes were made throughout the company’s leadership team. The most significant is the appointment of Colette Kress, NVIDIA’s executive vice president and chief financial officer, as its new interim CEO.

Jensen Huang Nvidia

NVIDIA Fires Jensen Huang Following Scandals and Political Tensions

Jensen Huang’s latest scandal began a few days ago, when his extramarital relationship with Alice Huang came to light. She is the head of Megaspeed, a company that secured multimillion-dollar contracts with NVIDIA. According to reports from U.S. intelligence agencies, Huang is a spy for the Chinese government, so the controversy quickly took on political overtones.

An internal investigation revealed that Jensen Huang had also cheated on his wife, Lori Mills, with Kimberly Powell, NVIDIA’s vice president of healthcare affairs. These revelations had an immediate impact at every level, including financially.

Shares in the technology giant plunged, losing as much as 20% of their value in one of the most unexpected declines toward the end of the year. In response, NVIDIA’s board of directors announced that Jensen Huang was no longer part of the company he co-founded with Chris Malachowsky and Curtis Priem.

In its statement, the company thanked Jensen for all his contributions to the organization and reaffirmed its commitment to remaining the largest company in the technology sector. It also announced that its next financial reports will be published on November 17.

“Jensen’s contributions to NVIDIA are far-reaching. NVIDIA is one of the most important technology companies in the world. The Board of Directors and the company thank Jensen for his invaluable contributions to the company and the industry,” the company explained.

Jensen Huang Nvidia

Who Is Colette Kress, NVIDIA’s New Interim CEO?

NVIDIA is entering a new era with major changes to its leadership team. To begin with, Harvey C. Jones, an investor and entrepreneur in the technology sector, was appointed as the company’s first chairman of the board. He previously served as CEO and executive chairman of Synopsys.

The most significant change is the appointment of Colette Kress as NVIDIA’s new interim CEO. She will hold the position until a permanent successor is appointed. In the meantime, she will continue serving as executive vice president and chief financial officer. For now, there are no candidates to permanently replace Jensen Huang.

Kress has an extensive career spanning more than 25 years in the financial sector. She has also worked at other major companies in the industry, including Microsoft and Cisco.

“Colette has helped lead NVIDIA through a period of extraordinary growth and has deep knowledge of our business, customers, operations, and financial position. 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,” said Harvey Jones, NVIDIA’s chairman of the board.

Colette Kress will lead NVIDIA during this transitional period.