Nvidia CEO Jensen Huang Resigns After 33 Years at the Helm
Nvidia announced that co-founder Jensen Huang has stepped down as president, CEO and director effective immediately, with CFO Colette Kress named interim CEO while the board searches for a permanent successor. Shares fell as much as 13% premarket before paring losses, and the company confirmed its November 17 earnings schedule remains unchanged.
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Just now, Nvidia announced that Jensen Huang has resigned from his roles as President, Chief Executive Officer, and Director of the company, effective immediately.
Current Executive Vice President and CFO Colette Kress will serve as Interim CEO while continuing to hold her existing position, until a permanent successor is appointed.
Following the announcement, Nvidia's pre-market stock price plunged sharply, at one point falling to $150.13, down about 13.58% from the previous trading day's close.
After the market opened, Nvidia's stock decline remained above 10%. However, as of press time, the decline had gradually narrowed, with the stock rebounding from its lows to trade down -4.63%.
For reference, on January 27, 2025, DeepSeek triggered a market reassessment of AI compute investment, and Nvidia closed down about 17% in a single day, with approximately $593 billion in market value wiped out, setting a record at the time for the largest single-day market value loss by a single U.S. company.
Jensen Huang Resigns
Jensen Huang co-founded Nvidia in 1993 and has led the company for 33 years.
According to the announcement, the board has initiated a search for a permanent CEO and will consider both internal and external candidates.
At the same time, Nvidia appointed Harvey C. Jones as the first Board Chair in the company's history. He previously served as CEO and Executive Chairman of Synopsys. Previously, Nvidia used an independent Lead Director system and had not appointed a Board Chair.
Interim CEO Kress has worked at Nvidia for more than 13 years. She joined the company in September 2013 and has since served as Executive Vice President and CFO, leading the finance organization. Nvidia said in the announcement that she has played a key role in the company's growth and transformation.
Before joining Nvidia, Kress served as Senior Vice President and CFO of the Business Technology and Operations Finance organization at Cisco, responsible for financial strategy, planning, reporting, and business development.
Earlier, she worked at Microsoft for 13 years, including four years as CFO of the Server and Tools division; even earlier, she held several finance positions at Texas Instruments.
Nvidia's new Board Chair Harvey C. Jones said that Kress has a deep understanding of Nvidia's business, customers, operations, and financial condition, backed by a seasoned management team involved in executing the company's strategy and advancing its technology roadmap.
The board expects that the company's operations, customer commitments, and product roadmap will continue to move forward without interruption.
Nvidia also confirmed that it will report fiscal year 2027 third-quarter results and hold its earnings conference call on November 17 as originally scheduled.
Reference links [1]https://nvidianews.nvidia.com/news/nvidia-announces-ceo-transition