Nvidia co-founder and longtime Chief Executive Officer Jensen Huang has stepped down from his role following an escalating governance crisis triggered by revelations of multiple extramarital affairs.
The chipmaker’s board of directors has appointed Executive Vice President and Chief Financial Officer Colette Kress as interim CEO while an external executive search firm leads the hunt for a permanent successor.
Nvidia’s board of directors has appointed longtime Chief Financial Officer Colette Kress as interim Chief Executive Officer on Thursday, November 12, 2026, following the immediate resignation of co-founder Jensen Huang amid a widening personal and corporate governance scandal.
The leadership shakeup brings an abrupt end to Huang’s 33-year tenure at the helm of the artificial intelligence chipmaker, triggering a 10% drop in Nvidia’s share price during premarket trading.
Immediate Transition & Search for Permanent Chief
In confirming Huang’s immediate departure, Nvidia’s board outlined its immediate operational and succession roadmap:
- Colette Kress Takes the Helm: Kress, who has served as Nvidia’s finance chief since 2013, steps into the interim chief executive role to maintain continuity across global operations, enterprise partnerships, and financial reporting.
- Permanent CEO Search Initiated: The board announced it is launching a formal search for a permanent successor and will evaluate both internal executives and external candidates.
- Market Reaction: Investors reacted sharply to the sudden loss of the company’s founder and longtime strategist, sending Nvidia shares down 10% in premarket trading on Thursday morning.
Widening Scandal Behind Huang’s Exit
Huang’s resignation follows intense scrutiny triggered earlier this week after the company launched an internal probe into his personal conduct and potential security risks:
- Foreign Intelligence Investigation: Nvidia’s board opened an independent inquiry into whether Huang was targeted by a “foreign intelligence effort” in connection with an extramarital relationship with Alice Huang, an executive at Singapore-based Megaspeed International suspected by U.S. officials of facilitating AI chip shipments to China.
- Infidelity Admission: In a memo sent to Nvidia employees on Sunday, Huang acknowledged being unfaithful to his wife, Lori Huang, apologizing to his family and staff—shortly before additional reports surfaced alleging a separate relationship with Nvidia Healthcare VP Kimberly Powell.
