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Nvidia's board announced Thursday that Jensen Huang has resigned as president, chief executive officer and a member of the board, effective immediately, the company said in a newsroom release.
Colette Kress, Nvidia's executive vice president and chief financial officer, has been appointed interim CEO and will continue in the CFO role until a permanent successor is named, the company said. The board said it is initiating a search for a permanent CEO and will consider internal and external candidates.
The board also appointed Harvey C. Jones as its first-ever chair. Nvidia said Jones has been an entrepreneur, technology executive and active venture investor for more than 30 years, including serving as chief executive officer and executive chairman of Synopsys. "Colette has helped lead NVIDIA through a period of extraordinary growth and has a deep understanding of our business, customers, operations and financial position," Jones said in the release. "The Board has full confidence in Colette and the leadership team, and we expect the company's operations, customer commitments and product roadmap to continue without interruption."
The release does not give a reason for Huang's resignation. Huang was not quoted.
Nvidia said it will still report third-quarter fiscal 2027 results on Tuesday, November 17, at approximately 1:20 p.m. PT, as previously scheduled, followed by an earnings call at 2 p.m. PT. Our fiscal 2027 earnings preview has the earlier backdrop, and our AI chips and memory guide covers the hardware context around the company.
Nvidia shares plunged more than 13% at the open, CNBC reported as of 9:59 AM ET. That is a Thursday morning figure, not a close. Shares had already fallen about 8% in after-hours trading Wednesday to $159.95, from a regular-session close of $173.73, according to Bloomberg data we previously cited; that earlier move is history, not Thursday's open.
Earlier this week, news organizations reported that Nvidia's board was reviewing Huang's position. We covered that reporting in our article on the board's review of Huang. Thursday's release does not say that review caused the resignation. Huang said on Sunday that he had been unfaithful to his wife.
Several firms had already cut their Nvidia ratings this week; those calls are in our article on the Baird, Bernstein, Oppenheimer and Evercore ISI downgrades.
FAQ
Why did Jensen Huang resign?
Nvidia's November 12 release gives no reason for the resignation. The announcement does not mention the board's earlier review, and we are not treating that earlier reporting as an official explanation.
Does Colette Kress stay CFO?
Yes. Nvidia said Kress will continue to serve as executive vice president and chief financial officer while serving as interim CEO until a permanent successor has been named.
Who is Harvey Jones?
Nvidia appointed Harvey C. Jones as the board's first-ever chair. The company said he has been an entrepreneur, technology executive and venture investor for more than 30 years, including serving as chief executive officer and executive chairman of Synopsys. CNBC reported that Jones joined Nvidia's board in 1993.
Does the Nov. 17 earnings date still hold?
Yes. Nvidia said it will report third-quarter fiscal 2027 results on Tuesday, November 17, at approximately 1:20 p.m. PT, as previously scheduled, followed by its earnings call at 2 p.m. PT.
How did Nvidia's stock react?
Nvidia shares plunged more than 13% at the open, CNBC reported as of 9:59 AM ET. That is a Thursday morning figure, not a closing price.
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Kelly B.AI Money desk
Kelly B. is a Codema.ai house byline: a pen name used by our editorial desk, not one individual journalist. It covers Hardware & Infra: GPUs and the memory inside them (HBM, GDDR7, DDR5, NAND), hardware for running AI locally, GPU rental prices, chipmaking, and the data centres and power behind AI. Pieces under this name are written with AI assistance and reviewed by a human editor before they're published.
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