Nvidia has named finance chief Colette Kress as interim chief executive after co-founder Jensen Huang resigned on Thursday 12 November 2026, ending a 33-year run at the top of the world’s most valuable chipmaker. The board accepted Huang’s resignation as president, chief executive and director the same day, and Kress will keep her roles as chief financial officer and executive vice president while the company searches for a permanent successor.
Huang, who co-founded Nvidia in 1993 and built it into a $4 trillion artificial intelligence powerhouse, stepped down after reports of two extramarital affairs, one involving an Nvidia executive who reported to him and another involving a woman alleged to be a Chinese spy. Huang has apologised for being unfaithful, and Nvidia is examining whether he was targeted by foreign intelligence. The company did not address either relationship in its Thursday announcement.
Quick Reference Summary
| Detail | What we know |
|---|---|
| Interim CEO | Colette Kress, Nvidia’s chief financial officer since September 2013 |
| Outgoing CEO | Jensen Huang, co-founder, led Nvidia for 33 years |
| Announcement date | Thursday 12 November 2026 |
| Kress’s other roles | Keeps her posts as executive vice president and chief financial officer |
| New board chair | Harvey C. Jones, Nvidia’s first chairman of the board |
| Share reaction | Fell as much as 14% on Thursday, closed down 4.3%; down more than 30% from the October peak |
| Next milestone | Third-quarter fiscal 2027 results due Tuesday 17 November 2026 |
| Permanent successor | Board search under way, considering internal and external candidates |
Huang’s 33-Year Reign Ends in Scandal
Huang’s departure is the most dramatic leadership change in Nvidia’s history. He co-founded the company in 1993 and ran it through the graphics-card era, the cryptocurrency mining boom and the artificial intelligence surge that made its processors the backbone of the world’s most advanced supercomputers and data centres.
The board moved within days of the affair reports surfacing. According to Reuters, the board met amid reports of Huang’s two extramarital affairs before accepting his resignation. One involved a woman alleged to be a Chinese spy, a detail that has drawn the attention of Washington. US Commerce Secretary Howard Lutnick has since agreed to testify before Congress as he faces questions over Nvidia and the Huang fallout.
Nvidia’s shares have paid the price. The stock fell as much as 14% on Thursday to its lowest in nearly 16 months before paring losses to close down 4.3%. The shares have now tumbled more than 30% from their October peak, wiping hundreds of billions of dollars from the company’s market value in a matter of weeks.
From Finance Chief to the Top Job
Kress is far from an outsider. She joined Nvidia in September 2013 as executive vice president and chief financial officer and has appeared alongside Huang on the company’s quarterly earnings calls ever since. Before Nvidia, she spent nearly 25 years in technology finance.
She started with an eight-year stint in finance roles at Texas Instruments, then moved to Microsoft, where she worked from 1997 to 2010 and became chief financial officer of the Server and Tools division. In 2010 she joined Cisco as senior vice president and chief financial officer of its Business Technology and Operations Finance organisation, where she ran financial strategy and business development. She left for Nvidia in 2013, even though it was the smallest company she had ever worked for.
Her education matches the finance-first profile. Kress holds a bachelor’s degree in finance from the University of Arizona and an MBA from Southern Methodist University. Inside Nvidia, she built a reputation as the one senior executive willing to challenge Huang’s enormous, often risky bets, pushing back as he drove the chipmaker deeper into multibillion-dollar AI investments, according to people familiar with the matter cited by Reuters.
The numbers behind her tenure are striking. Nvidia’s revenue was $4.13 billion in the fiscal year she joined and $215.9 billion in fiscal 2026. In a statement on Thursday, Kress said Nvidia’s “strength has always come from its people” and that she would build on the “extraordinary foundation Jensen created over the last 33 years.”
A $4 Trillion Chipmaker in the Balance
Kress takes charge of a company at a crossroads. Nvidia’s processors power the world’s most advanced supercomputers and AI data centres, and its next earnings report lands on Tuesday 17 November 2026, just five days after the leadership change. Investors will be watching for any sign that the transition disrupts the chipmaker’s product road map or its relationships with the cloud giants that buy its hardware in bulk.
Her own finances are closely tied to the company’s fortunes. According to Nvidia’s proxy filings, Kress owned about 4.44 million Nvidia shares as of 23 March 2026, worth roughly $772 million at the 11 November closing price of $173.73. Forbes ranked her No. 32 on its 2026 list of America’s richest self-made women, with a net worth of $1.2 billion as of June, though the recent slide in the share price has cut the value of her holdings to roughly $750 million. She was awarded a pay package worth $14 million for Nvidia’s fiscal 2026, including restricted stock units.
Whether Kress keeps the top job permanently is yet to be decided. The board has begun a search for a permanent chief executive and will consider both internal and external candidates, while Harvey C. Jones has been named as the company’s first chairman of the board. Market watchers believe the board may still look outside the company for a successor to lead the AI linchpin forward.
Frequently Asked Questions
Who is Colette Kress?
Colette Kress is Nvidia’s chief financial officer and executive vice president, a role she has held since joining the company in September 2013. She was named interim chief executive on 12 November 2026 after Jensen Huang resigned.
Why did Jensen Huang resign from Nvidia?
Huang resigned after reports of two extramarital affairs, one involving an Nvidia executive who reported to him and another involving a woman alleged to be a Chinese spy. He has apologised for being unfaithful, and Nvidia is examining whether he was targeted by foreign intelligence.
How long did Jensen Huang lead Nvidia?
Huang co-founded Nvidia in 1993 and served as chief executive for 33 years, overseeing its rise from a graphics-chip start-up to a $4 trillion AI chipmaker.
What happened to Nvidia’s share price after the announcement?
Nvidia shares fell as much as 14% on Thursday 12 November 2026 before closing down 4.3%. The stock has tumbled more than 30% from its October peak.
Will Colette Kress become Nvidia’s permanent CEO?
That has not been decided. Nvidia’s board has started a search for a permanent chief executive and will consider both internal and external candidates. Kress keeps her chief financial officer duties in the meantime.
When does Nvidia next report earnings?
Nvidia is scheduled to announce its third-quarter fiscal 2027 results on Tuesday 17 November 2026, five days after the leadership change.
