Jensen Huang, the longtime CEO and co-founder of Nvidia, has resigned from his position effective immediately. The departure follows a tumultuous week for the chipmaker, which sits at the center of the global artificial intelligence industry, as the company’s board faced mounting pressure regarding Huang’s personal conduct.
Scandal and Leadership Transition
The resignation comes after reports surfaced regarding two separate extramarital affairs. Earlier this week, Huang admitted to being unfaithful to his wife following allegations of a relationship with a woman suspected of being a Chinese spy—a matter currently under investigation by the FBI. Subsequently, reports emerged of a second affair with Kimberly Powell, Nvidia’s president of healthcare.
In response to the leadership vacuum, Nvidia’s board of directors has appointed Colette Kress, the company’s current Executive Vice President and Chief Financial Officer, to serve as interim CEO. Kress will maintain her existing financial responsibilities while leading the firm through this transition.
Market Impact
The news has triggered significant volatility for Nvidia, which ranks among the world’s most valuable companies. Shares plunged 10% in pre-market trading on Wednesday as investors reacted to the leadership shakeup and the potential security implications of the allegations. While the board had initially expressed confidence in Huang’s leadership on Sunday, the emergence of the second affair appears to have rendered his position untenable.
As of Wednesday evening, the company has officially confirmed the resignation, though it has not provided further details regarding the ongoing internal investigations into the security concerns raised by the initial affair.
