Jensen Huang has resigned from his role as CEO and president of Nvidia. He will be replaced by interim CEO, Colette Kress, who had previously worked as the company’s CFO for a long stretch.

“Nvidia Board of Directors announced today that Jensen Huang has resigned as President, Chief Executive Officer, and a member of the Board, effective immediately,” a statement on Nvidia’s newsroom says.

Jensen Huang has been embroiled in a scandal, or rather a couple of scandals, over the past few weeks.

First, an affair to which he later admitted; suggested to have been with a datacentre company executive suspected of working for Chinese intelligence.

Second, another alleged affair, this time with an executive at Nvidia.

The markets may get spooked by the announcement, as Huang was a co-founder of the business (founded in 1993, making Huang the longest CEO of a major tech firm) and has overseen the company through its latest and largest success.

The share price for the company had already plummeted to its lowest levels since June 2025 following a report that the company’s board was considering ousting Huang.

The company’s share price is currently down around 12% in pre-market trading.

The move to appoint the company’s long-standing CFO as interim CEO was an expected one, to help ease the transition from Huang’s leadership. Intel did something similar when the company ousted its CEO in 2018.

“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.”

Huang has also resigned from his position as president and from his board seat, which may ease some concerns in recent days that his significant stake and power in the company would be tough to expunge should the company board try to push him out.

Now, the job for the remaining Nvidia employees is to find the next full-time CEO. That could take some time.