Article · AI translation
An era has ended.
Henry reporting from Aofeisi
QbitAI | WeChat official account QbitAI
Henry reporting from Aofeisi
QbitAI | WeChat official account QbitAI
Nvidia has just announced that Jensen Huang has resigned as the company's president, chief executive officer and director, effective immediately.
Colette Kress, the current executive vice president and CFO, will serve as interim CEO while retaining her existing roles until a permanent successor is appointed.
After the announcement, Nvidia's shares plunged in premarket trading, at one point falling to $150.13, about 13.58% below the previous trading day's close.
After the market opened, Nvidia shares were still down more than 10%. By the time of publication, however, the decline had gradually narrowed as the shares rebounded from their low; they were down 4.63%.
For comparison, on January 27, 2025, DeepSeek prompted the market to reassess spending on AI computing power. Nvidia closed down about 17% that day, wiping roughly $593 billion off its market value and setting what was then a record for the largest single-day loss in market value by a U.S. listed company.
Jensen Huang co-founded Nvidia in 1993 and has led the company for 33 years.
According to the announcement, the board has begun a formal search for a CEO and will consider both internal and external candidates.
At the same time, Nvidia appointed Harvey C. Jones as the first chair of its board in the company's history. He previously served as CEO and executive chair of Synopsys. Nvidia had previously used an independent Lead Director system and had not appointed a board chair.
Kress, who is taking over on an interim basis, has worked at Nvidia for more than 13 years. She joined the company in September 2013 and has served as executive vice president and CFO ever since, leading its finance department. Nvidia said in its announcement that she has played a key role in the company's growth and transformation.
Before joining Nvidia, Kress was senior vice president and CFO of the Business Technology and Operations Finance division at Cisco, where she was responsible for financial strategy, planning, reporting and business development.
Before that, she worked at Microsoft for 13 years, including four years as CFO of its Server and Tools division; earlier, she held several finance positions at Texas Instruments.
Nvidia's new board chair, Harvey C. Jones, said Kress has a deep understanding of Nvidia's business, customers, operations and financial position, and is backed by a seasoned management team involved in executing the company's strategy and advancing its technology roadmap.
The board expects the company's operations, customer commitments and product roadmap to continue without interruption.
Nvidia also confirmed that, as scheduled, it will announce its third-quarter fiscal 2027 results on November 17 and hold an earnings conference call.
Reference link
[1]https://nvidianews.nvidia.com/news/nvidia-announces-ceo-transition