Nvidia CEO Resigns Following Scandal; Stock Plummets More Than 10% — Online

Nvidia's board of directors announced the resignation of CEO Jensen Huang following reports of two extramarital affairs, one of whose partners is suspected by U.S. intelligence agencies of working for Chinese intelligence.

Nvidia's stock plummeted by more than 10% in premarket trading. Chief Financial Officer Colette Kress has been named acting CEO of Nvidia until the board of directors finds a permanent CEO.

Find out what's happening at the company and how the situation is unfolding in our online coverage.

3:20 p.m. CET: Colette Kress has served as Nvidia’s chief financial officer since 2013; prior to that, she worked at Cisco, Microsoft, and Texas Instruments. She is the company’s best-known executive after Huang, at least among investors, according to Bloomberg. Boards of directors often appoint CFOs when they need to stabilize the situation quickly, the agency noted.

Kress is an experienced financier, but she lacks the technical background that Huang has, Freedom Broker senior analyst Yegor Tolmachev told Oninvest earlier. Investor Michael Burry wrote about the same issue on his blog, Cassandra Unchained, on November 12. According to him, among Nvidia’s executives, “there is no one who has a comprehensive understanding of the company’s operations on a global scale.”

Oninvest discussed who else in the market is being considered as a candidate for the CEO position at Nvidia in this article. Colette Kress

10:10 p.m. CET: Nvidia announced Huang's resignation in a statement on its website, thanking him for his "invaluable contributions." Here is the full statement regarding the change in CEO:

NVIDIA Announces Change in CEO

November 12, 2026

The Board of Directors of NVIDIA (NASDAQ: NVDA) announced today that Jensen Huang has stepped down from his positions as president, CEO, and member of the board of directors.

Colette Kress, NVIDIA’s current executive vice president and chief financial officer, has agreed to serve as interim CEO. Kress will retain her positions as Executive Vice President and Chief Financial Officer while serving as interim CEO until a permanent successor is appointed. The Board of Directors is beginning the search for a permanent CEO and will consider both internal and external candidates.

Kress has served as Executive Vice President and Chief Financial Officer of NVIDIA since joining the company in September 2013. During this time, she has led the company’s finance division and played a key role in NVIDIA’s growth and development. Before joining NVIDIA, Kress spent nearly 25 years in finance roles at leading technology companies, including Cisco and Microsoft.

The Board of Directors has appointed Harvey K. Jones as its first-ever chairman. Mr. Jones has more than 30 years of experience as an entrepreneur, technology executive, and active venture capitalist, including serving as CEO and Executive Chairman of the Board of Directors at Synopsys.

“Colette has helped guide NVIDIA through a period of exceptional growth and has a deep understanding of our business, our customers, our operations, and our financial position,” said Harvey Jones, chairman of NVIDIA’s board of directors. “She is supported by an experienced management team that has played a key role in executing NVIDIA’s strategy and advancing its technology roadmap. The Board of Directors has full confidence in Colette and the leadership team, and we expect the company’s operations, commitments to customers, and product roadmap to continue without interruption.”

“NVIDIA’s strength has always been its people, and together with our leadership team, I intend to build on the outstanding foundation that Jensen has built over the past 33 years,” said Colette Kress, interim CEO and CFO of NVIDIA. “We will continue the work that has made NVIDIA a leader in accelerated computing and AI, and we will capitalize on the opportunities that lie ahead. Our priority remains serving the interests of our customers, partners, developers, and shareholders.”

Jensen's contribution to NVIDIA's growth has been immense. NVIDIA is one of the most influential technology companies in the world. The Board of Directors and the company thank Jensen for his invaluable contribution to the company and the industry.

NVIDIA will release its financial results for the third quarter of fiscal year 2027 on Tuesday, November 17, at approximately 1:20 p.m. Pacific Time, as previously scheduled. The earnings conference call will begin at 2:00 p.m. Pacific Time.

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