Jensen Huang resigned as CEO of Nvidia, the company announced, after reports surfaced that he had two extramarital relationships, including one with a woman U.S. intelligence has identified as a Chinese intelligence asset.
The New York Times reported that Huang had a relationship with Kimberly Powell, a senior Nvidia executive who reported directly to him. Nvidia's board had already opened an independent investigation into Huang's relationship with Alice Huang, a Chinese businesswoman who U.S. intelligence officials have linked to Chinese intelligence.
Nvidia's Thursday announcement did not specify a reason for Huang's resignation. Media reports indicated the board held an emergency meeting to consider whether to remove the CEO.
Interim leadership and board actions
Nvidia's board named longtime Chief Financial Officer Colette Kress as interim CEO. Kress, who joined Nvidia in 2013, will continue to serve as CFO while overseeing the company's operations during the transition. The board also appointed Harvey C. Jones as Nvidia's first-ever board chair.
The board said it will begin a search for a permanent chief executive and emphasized that it expects the company's operations, customer commitments and product roadmap to continue without interruption.
Why this matters
Jensen Huang has been central to Nvidia's rise and to the broader buildout of artificial intelligence infrastructure; his leadership has had significant market and economic implications. According to market reports, Huang's departure could unsettle investor confidence in AI-related investments. Nvidia shares fell more than 10% following the announcement.
The immediate and medium-term effects will depend on how smoothly the company manages the leadership transition and how the board and new interim management address the investigations and investor concerns.
Summary of key points
- Jensen Huang resigned as Nvidia CEO amid reports of two extramarital relationships, one involving a person U.S. intelligence has linked to Chinese intelligence.
- The New York Times reported a relationship between Huang and Kimberly Powell; the board investigated his ties to Alice Huang.
- Colette Kress was named interim CEO while remaining CFO; Harvey C. Jones became the board chair.
- Nvidia said operations should continue without interruption; the company's stock fell more than 10% on the news.
This is a developing story and further details may follow as the investigation and board decisions proceed.
