Nvidia said Thursday that Jensen Huang has resigned as president, chief executive and a member of its board, effective immediately, and named Chief Financial Officer Colette Kress interim CEO while the board searches for a permanent successor. Nvidia shares fell about 12.5% in premarket trading to about $152.08 as of 9:18 a.m. Eastern, from Wednesday’s close of $173.73.
In a filing with the Securities and Exchange Commission, Nvidia said its board accepted Huang’s resignation on Wednesday, Nov. 11. Kress, the company’s CFO since 2013, will keep that role while she serves as interim CEO. The board will consider internal and external candidates for the permanent job. It also named Harvey C. Jones, a director since 1993 and a former chief executive and executive chairman of Synopsys, as its first-ever chair.
“The Board has full confidence in Colette and the leadership team, and we expect the company’s operations, customer commitments and product roadmap to continue without interruption,” Jones said in the company’s announcement. Kress said she is committed to “building on the extraordinary foundation Jensen created over the last 33 years.”
Nvidia’s announcement did not give a reason for the resignation. It follows an email to employees on Sunday in which Huang said he had been unfaithful to his wife, NBC News reported, and a New York Times report on Wednesday that he had another relationship with an Nvidia executive who reported to him. NBC News and CNBC reported that the board met Wednesday to discuss his future.
Nvidia said it will still report third-quarter results on Tuesday, Nov. 17, at about 1:20 p.m. Pacific time, as previously scheduled.
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