Technology Desk – Nvidia CEO Change: There has been a major leadership change in American tech company Nvidia. Company co-founder and CEO Jensen Huang has resigned from his post. After this, the company's current Chief Financial Officer (CFO) Colette Kress has been appointed as interim CEO. Along with the responsibilities of CEO, she will also continue to hold the post of CFO.
Nvidia said in a statement released on November 12 that the board is beginning the search for a permanent CEO. For this, candidates from both inside and outside the company will be considered. The company has not given any official reason for Jensen Huang's resignation.
Colette Kress has been Nvidia's CFO since 2013.
Colette Kress joined Nvidia in September 2013. Since then she has been working as Executive Vice President and CFO of the company. His work at Nvidia has focused on the company's financial strategy, investments and business performance.
Before Nvidia, Kress worked for nearly 25 years in finance-related positions at technology companies. His career includes companies such as Microsoft, Cisco, and Texas Instruments. Now he has been given the interim command of Nvidia, one of the world's leading AI chip companies.
Nvidia's board also made changes
With the change in the post of CEO, Nvidia has also reshuffled the responsibilities of the board. Company director Harvey C. Jones has been appointed as the first chair of the board. He has been on the board of Nvidia since 1993.
According to the company, Colette Kress will remain as interim CEO until a permanent CEO is selected. She will also continue the responsibility of CFO. The board has said that the company's operations, promises made to customers and product roadmap will continue.
Nvidia shares fall after Jensen Huang's resignation
Nvidia shares fell sharply after the news of Jensen Huang's resignation. According to Reuters, shares fell about 14% during trading on Thursday and ultimately closed down 4.3%. Questions have been raised among investors regarding the company's leadership and future strategy.
Huang was the co-founder of Nvidia and led the company for nearly 33 years. After his departure, investors will keep an eye on how the company maintains its strategy and growth pace in the AI chip business.
Nvidia's quarterly results will come on November 17
Nvidia is scheduled to release its third quarter fiscal 2027 results on November 17. After the CEO change, these results will be important to understand the company's business and future strategy. Investors will also look at what message the company sends to its customers, investors and AI business partners under the new interim leadership.