Jensen Huang, the Nvidia CEO who was under investigation after allegedly having an affair with a suspected Communist spy, has resigned, effective immediately. The scandal came to light over the weekend, with Nvidia announcing an investigation and saying that Huang was "the target of a foreign intelligence effort." The company was concerned Huang was targeted by China in order to weaken Nvidia's relationship with the United States.
Colette Kress, the Executive Vice President and Chief Financial Officer, will serve as interim Chief Executive Officer.
Jensen Huang resigned. https://t.co/Egx2M72qg4
— Jennifer Jacobs (@JenniferJJacobs) November 12, 2026
In a press release, Nvidia announced the "CEO transition":
Board of Directors announced today that Jensen Huang has resigned as President, Chief Executive Officer, and a member of the Board, effective immediately.
Colette Kress, current Executive Vice President and Chief Financial Officer of NVIDIA, has agreed to serve as Interim Chief Executive Officer. Kress will continue to serve as Executive Vice President and Chief Financial Officer while serving as Interim Chief Executive Officer until a permanent successor has been named. The Board is initiating a search for a permanent Chief Executive Officer and will consider internal and external candidates.
Kress has served as Executive Vice President and Chief Financial Officer of NVIDIA since joining the company in September 2013. During her tenure, she has led the company’s finance organization and has played a key role in NVIDIA’s growth and evolution. Prior to joining NVIDIA, Kress spent nearly 25 years in finance roles at leading technology companies, including Cisco and Microsoft.
The Board of Directors appointed Harvey C. Jones as its first-ever Chair of the Board. Mr. Jones has been an entrepreneur, technology executive, and active venture investor for over 30 years, including serving as Chief Executive Officer and Executive Chairman of Synopsys.
Kress has served as Executive Vice President and Chief Financial Officer since 2013.
BREAKING: Jensen Huang has resigned as Nvidia CEO. CFO Colette Kress will act as Interim CEO and earnings go ahead next week. The board will consider external candidates for CEO longterm.
— Ed Ludlow (@EdLudlow) November 12, 2026
The markets also responded to the resignation, with Nvidia stock dropping 13 percent.
BREAKING: Nvidia $NVDA down over 13% following CEO Jensen Huang resignation pic.twitter.com/pBDt0dSZRu
— Kalshi Finance (@Kalshi_Finance) November 12, 2026
The company is now on track to lose $700 billion since the close of trading last week.
The shock resignation of Nvidia CEO Jensen Huang renewed pressure on the chipmaker's shares, with the company on track to lose more than $700 billion since the close of U.S. trading last week. https://t.co/AWChl2crrn
— CBS News (@CBSNews) November 12, 2026
Huang helped found Nvidia 33 years ago. The search for a permanent CEO is underway, and will consider both internal and external candidates.