Jensen Huang Resigns from Nvidia Leadership Effective Immediately; Colette Kress Takes Over as Interim CEO
Key Facts
Nvidia announced on November 12 that Jensen Huang had resigned as president, chief executive officer and a member of the board, effective immediately. The company said the board had begun searching for a permanent CEO, considering candidates from inside and outside the company. The resignation had been accepted on November 11, according to the company’s filing with the U.S. Securities and Exchange Commission. Nvidia’s announcement did not give a reason for the resignation. The leadership transition comes before the company reports its fiscal 2027 third-quarter results, scheduled for November 17.
Chief Financial Officer Colette Kress took over as interim CEO and will continue serving as executive vice president and chief financial officer until a permanent successor is named. Nvidia said the selection process would include internal and external candidates, without announcing a timeline. Kress has served as executive vice president and chief financial officer since joining the company in September 2013. In a parallel change at board level, Nvidia appointed Harvey C. Jones as its first chairman. Jones had been a board member since 1993, according to the company’s filing.
The leadership transition follows an independent investigation announced by Nvidia’s board on November 8, after reports that Huang had been targeted by a foreign intelligence operation. The company said a committee of independent board members would oversee the investigation, assisted by independent outside legal counsel. The board added that it had no reason to believe national security or Nvidia secrets had been compromised, and that the investigation would examine the available information. In a letter to employees dated November 8, Huang said: "I was not faithful to my wife. What I did hurt my wife and our children, and there is no excuse for what I did. I am deeply sorry." He said he would support and cooperate with the independent investigation.
On the intelligence aspect, the Associated Press reported that U.S. intelligence suspects Alice Huang, a businesswoman, of being a Chinese spy, while Beijing denies it. These remain allegations attributed to their sources, while Nvidia’s board said it did not believe the company’s secrets or national security had been compromised. Separately, Reuters reported that Huang had pushed to preserve Nvidia’s access to the Chinese market. The news agency said lawmakers from both parties had called for tighter restrictions on China’s access to advanced AI chips. The company did not link his resignation to those pressures or to the investigation in its announcement.
The developments coincided with pressure on Nvidia shares. The Associated Press reported that the stock fell more than 4% at the close of the November 12 session, after declining earlier in the session. EL7 data show the stock closed at $166.19 on November 12, then at $162.85 on November 13. The stock had closed at $168.89 on November 10 and $173.73 on November 11. These prices provide a sequence of the stock’s movement around the resignation announcement; the percentage decline reported by the news agency applies specifically to the November 12 session.
The resignation comes as Nvidia is posting strong revenue growth amid restrictions on sales of AI chips to China. In the fiscal 2027 second quarter, which ended on July 26, 2026, the company reported revenue of $96.2 billion, up 106% from a year earlier. It estimated third-quarter revenue at $108 billion, plus or minus 2%. The company said its forecast assumed no data-center computing revenue from sales to China. Reuters reported that Huang’s stake in Nvidia was 3.61% at the time of its report on November 12, and that demand for AI computing had driven the stock up sevenfold through early October.
Attention is turning to the financial results scheduled for November 17, the company’s first near-term milestone after the leadership transition. Nvidia said results would be released at about 1:20 p.m. Pacific time, followed by an earnings call at 2 p.m. On trade policy, the Associated Press reported on November 14 that aides to U.S. President Donald Trump were discussing closing gaps in existing export measures, including licensing and preventing Chinese companies from using advanced chips through remote access. Reuters pointed to calls from lawmakers of both parties for tighter restrictions on China’s access to these chips. No new regulatory decision had been announced in the reported facts.