NVIDIA CEO Jensen Huang steps down, Colette Kress takes over as interim chief

American chipmaking giant NVIDIA announced that co-founder and CEO Jensen Huang has stepped down as president, chief executive officer, and a member of the company’s board, effective immediately. The Board announced the decision after mounting personal controversies threatened Huang’s leadership at the company. It was reported that Nvidia’s board could meet soon to decide the future of the company. Huang, who co-founded NVIDIA in 1993, led the chipmaker for 33 years and will be replaced by Colette Kress, NVIDIA’s executive vice president and chief financial officer. Kress has been named interim CEO while retaining her current CFO role while the board looks for a permanent chief executive. She joined the company 13 years ago and has spent nearly 25 years in finance roles at leading technology companies, including Cisco and Microsoft. The board said it has begun a search and will consider both internal and external candidates. It also appointed Harvey C. Jones as the company’s first-ever chair of the board. “Colette has helped lead NVIDIA through a period of extraordinary growth and has a deep understanding of our business, customers, operations and financial position,” said Harvey Jones, Chair of the NVIDIA Board of Directors. Board Chair Harvey Jones said Kress has played a key role in NVIDIA’s growth over the past decade and expressed confidence that the company’s operations and AI technology roadmap would continue without interruption. Huang, the outgoing founder and CEO, has been involved in controversy over his relationship with a Chinese businesswoman suspected of working with Beijing’s intelligence services. A separate report has also linked him to a senior Nvidia executive. Get the latest in engineering, tech, space & science - delivered daily to your inbox.