The exit follows a board probe into a suspected foreign intelligence effort and a New York Times report of a second affair
Nvidia co-founder Jensen Huang resigned as president, chief executive officer and board member on Thursday, effective immediately, ending a 33-year run at the helm of the chipmaker.
Chief Financial Officer Colette Kress has been appointed interim CEO. She will keep her CFO duties while the board searches for a permanent successor, considering both internal and external candidates. The board also named Harvey C. Jones as its first chair.
The shares fell sharply on the news, dropping more than 10 per cent, according to CNBC and other reports.
The resignation follows days of speculation after the board said on November 8 that it would independently investigate “recent reporting” that Huang was the target of a foreign intelligence effort. That reporting centred on his relationship with Alice Huang, a businesswoman US officials suspect of being a Chinese intelligence asset. Beijing has rejected the claim as a smear. In a memo to employees, Huang admitted being unfaithful to his wife.
The New York Times has since reported that Huang also had an affair with an executive who reports to him, according to CNN. Nvidia has not publicly commented on that report in the sources available so far.
Kress joined Nvidia as CFO in September 2013. In her statement, she praised the foundation Huang laid over 33 years and said her focus is on serving customers, partners, developers and shareholders. Jones said Kress has helped lead the company through a period of extraordinary growth and understands its business, customers and finances.
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