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The much-anticipated Nvidia announcement is here: co-founder and long-time CEO Jensen Huang has resigned from his position with immediate effect. The bombshell news arrives amid a whirlwind week for the company, with Huang admitting to an extramarital affair with a suspected Chinese spy; further reports also suggest another affair involving an Nvidia executive.
With Huang ejected from the CEO seat, in his place is interim CEO Colette Kress, who has served as the Executive Vice President and Chief Financial Officer of Nvidia since her arrival in September 2013. Nvidia has also appointed its first-ever Chair of the Board, Harvey C. Jones, who is described as an “entrepreneur, technology executive, and active venture investor for over 30 years”.
In an official blog post today, the company notes that “Jensenโs contributions to NVIDIA are profound,” thanking Huang for “immeasurable contributions to the company and the industry” during his 33-year tenure. While Kress has worked directly for Nvidia for more than a decade, Jones has been part of the Nvidia board since November 1993, months after the company was founded.
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Official statement from Nvidia
NVIDIA Board of Directors announced today that Jensen Huang has resigned as President, Chief Executive Officer, and a member of the Board, effective immediately.
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.
Kress has served as Executive Vice President and Chief Financial Officer of NVIDIA since joining the company in September 2013. During her tenure, she has led the companyโs finance organization and has played a key role in NVIDIAโs growth and evolution. Prior to joining NVIDIA, Kress spent nearly 25 years in finance roles at leading technology companies, including Cisco and Microsoft.
The Board of Directors appointed Harvey C. Jones as its first-ever Chair of the Board. Mr. Jones has been an entrepreneur, technology executive, and active venture investor for over 30 years, including serving as Chief Executive Officer and Executive Chairman of Synopsys.
Source: Nvidia Newsroom
Prior to the official announcement, several tech executives shared their public support to keep Huang in his CEO position. Notably, Epic Games CEO Tim Sweeney said that firing Huang would be “Apple firing Steve Jobs level of idiocy”. On top of that, Elon Musk has said it “would be an honor” to hire Huang if he were to be let go by Nvidia, so we guess we’ll see how this all plays out. Following the news, Sweeney describes his resignation as “A sad day for NVIDIA, developers, America, and all humanity”.
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