Nvidia confirms major leadership shake-up as Jensen Huang steps down

NVIDIA CEO Jensen Huang has stepped down after 33 years at the company, sending shockwaves through the technology industry. NVIDIA’s board announced his immediate departure from the positions of president, chief executive, and board member on Thursday, with longtime CFO Colette Kress taking over as interim CEO while the company searches for a permanent successor.

NVIDIA has appointed Harvey C. Jones as its first-ever board chair. Jones previously served as CEO and executive chairman of Synopsys, and his appointment establishs a formal chairmanship role that NVIDIA had not previously maintained.

Huang co-founded NVIDIA in 1993 and spent more than three decades transforming it from a graphics processor manufacturer into one of the world's most influential technology companies. Under his leadership, the company became a major force in PC gaming before expanding into artificial intelligence, data centers, and other computing markets.

The departure comes amid claims involving Huang's personal relationships. A coverage by The New York Times concerning an alleged relationship with a married healthcare executive who worked under him at NVIDIA. It also mentions earlier allegations involving Alice Huang, a business executive associated with Singapore-based Megaspeed, which reportedly purchased advanced NVIDIA chips.

Claims that she was connected to China's Ministry of State Security have also been raised, although the Chinese government has denied the allegations. NVIDIA's board has launched an independent investigation into whether Huang may have been targeted by a foreign intelligence operation, along with an internal memo in which Huang allegedly acknowledged being unfaithful to his wife and expressed regret.

Kress willl bring considerable experience to the interim position, as she joined NVIDIA in 2013 after holding finance roles at Cisco, Microsoft, and Texas Instruments. Having regularly represented the company during earnings calls, she is familiar with its financial position, operations, and long-term strategy.

Huang's departure represents a major turning point for NVIDIA. His influence on the company's rise, from gaming graphics to AI infrastructure, is difficult to overstate. However, his exit could complicate the public perception of his legacy and leave NVIDIA facing an unusually challenging leadership transition. According to Reuters, NVIDIA shares have fallen more than 10% in premarket trading following the announcement, and the board is said to be considering both internal and external candidates for the permanent CEO position.

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