Jensen Huang has resigned as president, chief executive officer and member of Nvidia’s board of directors. The decision takes effect immediately, and the company has appointed its chief financial officer, Colette Kress, as interim chief executive officer.
Huang is a co-founder of Nvidia and has led the company since its founding in 1993. His departure brings an end to his 33-year tenure at the chipmaker, which has become one of the main centers of the global artificial intelligence boom.
Board begins search for permanent successor
Colette Kress will also retain her position as chief financial officer while the board searches for Huang’s permanent successor. Nvidia will consider both internal and external candidates.
Harvey C. Jones has been appointed the board’s first chairman. In its statement, the board said that “operations, customer commitments and the product roadmap will continue without interruption.”
Following the news, Nvidia shares fell more than 10% in premarket trading. The company is one of the largest manufacturers of chips used to train and run artificial intelligence systems, while Huang is one of the sector’s most recognizable figures.
Resignation follows board investigation
The decision was announced four days after the board began an independent investigation. It followed reports of an alleged relationship between Huang and a woman described by U.S. intelligence sources as having ties to Chinese intelligence. The claims have not been independently confirmed by The Associated Press.
There were also reports of an alleged relationship between Huang and an Nvidia employee who had been his direct subordinate. It was against the backdrop of these reports that the board discussed the chief executive’s future, The Associated Press and Wired reported.
On November 8, Nvidia said there was no reason to believe that U.S. national security or company secrets had been compromised. The board said it would review all available information.
The next major test for Nvidia’s leadership will be the financial results scheduled for November 17. They will be presented under the interim leadership of Colette Kress.
Sources: apnews.com, wired.com, axios.com