Nvidia has appointed Chief Financial Officer Colette Kress as interim chief executive following Jensen Huang’s departure, with the chipmaker’s board considering internal and external candidates for the permanent role amid mounting scrutiny of its former leader.
Nvidia has appointed Chief Financial Officer Colette Kress as interim chief executive following Jensen Huang’s resignation, as the chipmaker begins the search for a permanent successor amid reports of extramarital affairs involving an alleged Chinese spy and two company employees.
Kress will lead Nvidia on an interim basis until a full-time successor is named.
Shares in the chipmaker plunged by 13% when Wall Street opened, after Huang’s departure was announced. After a partial rebound, they closed down 4.3% on Thursday, wiping more than US$180bn (£135bn) off Nvidia’s value on the day and around US$490bn for the week – valuing the company at US$4tn.
The statement from Nvidia’s board of directors confirming Huang’s departure did not mention the spying scandal and personal conduct revelations, instead paying tribute to Huang’s “profound” contributions to the company he co-founded.
“Jensen’s contributions to Nvidia are profound. Nvidia is one of the most consequential technology companies in the world. The board and the company thank Jensen for his immeasurable contributions to the company and the industry,” the statement said.
It added that Huang had resigned as Chief Executive, President and Nvidia board member “effective immediately”.
Nvidia’s board said it would consider internal and external candidates for the chief executive’s role.
Internal candidates include Kress and Ian Buck, who manages the company’s AI hardware and software products.
Rene Haas, the chief executive of Arm Holdings, a UK-based chipmaker, has also been mooted, along with Lisa Su, the chief executive of the chipmaker AMD.
Harvey Jones, a tech investor and entrepreneur, has been appointed as NVIDIA’s chair.
