With immediate effect, Jensen Huang steps down as Nvidia’s CEO
Jensen Huang has resigned as president and CEO of Nvidia, with immediate effect.
The company’s board of directors declared in an official statement this Thursday that it will start looking for a new CEO right now. Huang’s «immeasurable contributions» during the 33 years since he co-founded the business were also acknowledged by the board.
Colette Kress, the Chief Financial Officer, has been appointed interim CEO while maintaining her present duties.
Nvidia shares dropped 10% in pre-market trading in the United States after the revelation. Contributing to a slump that has destroyed about $600 billion in market value this week.
The fact that Huang, 63, has dozens of employees directly under him and owns roughly 3.6% of Nvidia’s stock highlights the strict control he has kept over the business he co-founded.
Congressmen are demanding probes on possible threats to national security, while U.S. President Donald Trump has referred to the Nvidia CEO as «an honorable guy.»
Board of directors Huang dismissal
Nvidia’s board of directors convened on Wednesday to discuss Huang’s dismissal, according to a person familiar with the situation—as reported by Reuters—after rumors surfaced that day that Huang had an extramarital affair with a top business official who directly reported to him.
An AI ecosystem that Huang helped finance by investing Nvidia’s expanding cash reserves in cloud service providers, suppliers, and the biggest research institutes in the sector is in danger of being disrupted by Huang’s departure. Which throws the $4 trillion corporation into turmoil.
Given Huang’s steadfast attempts to keep access to the Chinese market and his personal relationship with Trump. This departure may also have significant ramifications for U.S. chip export strategy. Harvey C. Jones, a longtime director, was named the company’s first chairman of the board of directors.
Additionally, Nvidia affirmed that the announcement of its financial results for the third quarter of fiscal year 2027 is still planned for next Tuesday, November 17, following the closure of the Wall Street markets.
