Nvidia’s first-ever chair writes to staff after Huang resigns
Nvidia’s newly appointed board chair Harvey Jones has written to employees hours after Jensen Huang resigned as CEO of the company he co-founded in 1993. Kress joined Nvidia in September 2013 and will continue as CFO alongside her new role. She previously spent nearly 25 years in finance roles at Cisco and Microsoft. As CFO for over 13 years, Colette has been a key architect of Nvidia’s growth and capital strategy. Nvidia’s board announced his exit on Thursday, November 12, and named Chief Financial Officer Colette Kress as interim CEO. Earlier reporting noted: The resignation follows weeks of mounting pressure on the 63-year-old, who co-founded Nvidia in 1993 and led it through the AI boom. On Sunday, November 8, Huang admitted to an extramarital affair with Alice Huang, a former executive at Singapore-based data centre firm Megaspeed.
In the company-wide letter, which was first reported by The Verge, Jones called Huang’s contributions “profound” and confirmed that chief financial officer Colette Kress will lead Nvidia as interim CEO while the board searches for a permanent successor. Earlier reporting noted: Jensen Huang resigns as Nvidia CEO after affairs with an alleged Chinese spy and a company executive, CFO Colette Kress named interim CEO; company says: The Board and the company thank Jensen for his… Huang has also left Nvidia’s board, effective immediately. His exit follows a board investigation into his personal relationships, which reportedly involved a direct report and an alleged Chinese spy. Neither Nvidia’s official statement nor Jones’ letter mentions the probe. The board will consider internal and external candidates for the top job. Jones, a former CEO and executive chairman of chip design software maker Synopsys, becomes the first person to hold the post at Nvidia. Dear Nvidia Employees, I am writing to share an important update. Jensen has resigned as CEO and Board Member, and the Board has asked our Chief Financial Officer Colette Kress to serve as interim CEO while it conducts a search for a permanent successor looking at both internal and external candidates. I will serve as the first-ever Chair of the Board. She possesses a deep understanding of this business and the markets in which we operate. The Board has full confidence in Colette to deliver on our commitments to shareholders, customers, partners, and to each of you. Join conversation Share your thoughts in the comments Be respectful · TOI community guidelines Jensen’s contributions to Nvidia are profound. Nvidia is one of the most consequential technology companies in the world. We pioneered accelerated computing, defined the modern GPU, and built the platform that powered artificial intelligence . The Board takes seriously our duty as stewards of this great company. The strength of this company resides in our employees, leadership team, technical strength and partner ecosystem. I am confident that under Colette’s leadership, with the full support of the Board, we will continue to grow our business, and lead the industry forward. Thank you for your focus, your professionalism, and your commitment to Nvidia. Harvey Jones Your child uses AI every day. But do they understand it? Find out in the TOI AI Masterclass. Jensen Huang has resigned as Nvidia’s President and CEO and has also left the company’s board, with immediate effect. Kress will keep her CFO role until the board finds a permanent replacement. US officials reportedly suspect her of spying for China. Nvidia’s announcement does not give a reason for his exit.
Earlier reporting noted: Colette Kress takes charge as Nvidia begins its search for a new CEO On Wednesday, fresh reports said he had also had a relationship with a married healthcare executive at Nvidia who reported to him.