Nvidia CEO Jensen Huang has stepped down from his position amid mounting scrutiny over two extramarital affairs, including one with a woman suspected of spying for China and another with a senior executive who reports to him, the company’s board announced on Thursday.
Colette Kress, Nvidia’s chief financial officer and executive vice president, will serve as interim CEO while the board searches for a permanent replacement. Kress will continue to serve as Executive Vice President and Chief Financial Officer during the search.
“Colette has helped lead Nvidia through a period of extraordinary growth and has a deep understanding of our business, customers, operations and financial position,” said Harvey Jones, Chair of the Nvidia Board of Directors. “She is supported by an experienced leadership team that has been instrumental in executing Nvidia’s strategy and advancing its technology roadmap. 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.”
Huang’s departure marks a major leadership shakeup at one of the world’s most valuable companies, raising questions about the future of the artificial intelligence chipmaker that Huang built into an industry powerhouse. The upheaval comes just days after Nvidia’s board publicly expressed confidence in Huang while launching an independent investigation into reports that he was targeted by a foreign intelligence operation.
“Nvidia’s strength has always come from its people, and together with our leadership team, I am committed to building on the extraordinary foundation Jensen created over the last 33 years,” said Kress in a statement. “We will continue advancing the work that has made Nvidia a leader in accelerated computing and AI, and execute on the opportunities ahead. Our focus remains on serving our customers, partners, developers and shareholders.”
The Wall Street Journal reported Wednesday that Nvidia’s board was preparing to remove Huang, with directors potentially meeting that day to determine his future. The New York Times separately reported that Huang had an extramarital relationship with Kimberly Powell, Nvidia’s vice president of health care, citing five people who worked at the company.
The disclosure followed Huang’s acknowledgment of an affair with Alice Huang (no relation), a Chinese businesswoman identified by U.S. intelligence officials as a Chinese intelligence asset. Republican leaders of three House committees have requested a closed-door briefing with the Nvidia chief about his interactions with her.
Nvidia’s board announced its investigation Sunday, expressing confidence in Huang’s leadership and saying it had no reason to believe company secrets or national security had been compromised. On Tuesday, independent directors retained former acting U.S. Attorney Joon H. Kim and his law firm, Wachtell, Lipton, Rosen & Katz, to lead the review. Huang pledged to cooperate.
Huang, 63, co-founded Nvidia in 1993 and oversaw its transformation from a graphics chip manufacturer into the dominant supplier of processors powering the AI boom. His exit leaves the company navigating an extraordinary leadership transition as competition intensifies and Washington scrutinizes advanced chip sales to China.
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