Nvidia appoints Colette Kress as interim CEO amidst leadership transition

Huang’s departure comes as Nvidia’s board investigates a potential foreign intelligence operation and addresses admissions of infidelity made by Huang in a memo.

The board stated that a search for a permanent CEO will commence, considering both internal and external candidates. Nvidia’s stock price fell by 10% in premarket trading after the announcement.

Reports indicate that Huang had romantic relationships with Alice Huang, an executive at Megaspeed, a company that is a customer of Nvidia, and Kimberly Powell, a Nvidia employee. US intelligence officials have reportedly identified Alice Huang as a suspected Chinese spy.

Kress, who joined Nvidia in September 2013, has been viewed as a potential successor by insiders and analysts. She previously held finance roles at Cisco, Microsoft, and Texas Instruments. She reported directly to Huang.

“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,” Kress said in a statement.

Huang, who maintained a leadership structure with approximately 60 direct reports, had expressed a desire to continue working for an extended period, which presented challenges for succession planning.