On November 12, 2026, Nvidia (NASDAQ: NVDA) issued a formal statement announcing that company co‑founder and long‑time president, chief executive officer and director Jensen Huang has immediately resigned from all of those roles. The decision marks the end of Huang's 33‑year leadership of Nvidia. The announcement also confirmed that current executive vice president and chief financial officer Colette Kress will serve as interim chief executive officer while continuing as CFO until the board names a permanent successor. The board has launched a search for a permanent CEO that will consider both internal and external candidates. In addition, long‑serving director Harvey C. Jones has been appointed the company's first‑ever board chair.
Nvidia's press release stated that Huang's resignation is effective immediately. Kress has served as executive vice president and chief financial officer since joining Nvidia in September 2013, having previously held nearly 25 years of financial leadership roles at technology companies including Cisco and Microsoft. Board chair Jones said in a statement that Kress has played a critical role during the company's rapid growth and has a deep understanding of the business, customers, operations and financial position, supported by an experienced leadership team. The board expressed full confidence in Kress and the leadership team and expects operations, customer commitments and the product roadmap to continue uninterrupted. In her own statement, Kress emphasized that Nvidia's strength comes from its employees and said she and the leadership team are committed to building on the extraordinary foundation established over the past 33 years to maintain the company's leadership in accelerated computing and artificial intelligence for customers, partners, developers and shareholders.
The news prompted swift reactions in global tech and capital markets. Nvidia shares fell sharply after the market opened on November 12, declining roughly 12%–14% intraday and, since earlier reports emerged the previous week, had at one point accumulated a drop approaching 19%, erasing an amount of market value measured in the hundreds of billions. As one of the world's most valuable technology companies, Nvidia's share movements also affected broader tech stocks and market sentiment. The company plans to release fiscal 2027 third‑quarter results on November 17 as scheduled, with Kress leading related communications. Internally, Kress and Jones each sent memoranda to employees acknowledging that this is “an exceptionally difficult time,” thanking staff for their resilience and professionalism, and announcing an all‑hands meeting at 9:00 a.m. Pacific time on November 18 to discuss the company's path forward.
The personnel change follows heightened scrutiny of Huang's personal affairs. Earlier reports alleged extramarital relationships, including with a woman whom U.S. officials reportedly suspected of ties to Chinese intelligence, and with a senior company executive who reported directly to him. Nvidia's board had previously launched an independent investigation. Huang publicly acknowledged infidelity and apologized to his family and employees. The company's announcement did not provide detailed reasons for the resignation, expressing instead gratitude for Huang's “inestimable contributions” to the company and the industry.
Since co‑founding Nvidia in 1993, Huang had closely identified his personal influence with the company's brand. Under his leadership, the company evolved from a business focused on graphics processing units (GPUs) to a core provider of accelerated computing and AI infrastructure, playing a central role in the current global AI wave. His roughly 3.61% stake keeps him among the company's principal shareholders. The transition has been viewed by the market as a key governance milestone for Nvidia: the establishment of a board chair role for the first time and the initiation of a formal CEO succession process signal a shift toward a more institutional leadership structure.
Analysts noted that interim CEO Kress's familiarity with finance and the capital markets should help stabilize investor confidence and day‑to‑day operations during the transition. The board emphasized that both internal and external candidates will be considered, indicating that the permanent successor search will not be limited to the existing executive team. Observers said Nvidia's smooth leadership transition is consequential for the global AI ecosystem, customer delivery timelines and related supply chains. The company has reiterated that its product roadmap and customer commitments will remain intact.
Nvidia currently faces sustained demand for AI infrastructure. Huang's departure closes a highly personalized era of leadership and begins a new phase in which the company moves toward a more conventional corporate governance model. Markets will closely watch the selection of a permanent CEO, the November 17 earnings results, and the company's execution on technology strategy, customer relationships and global expansion. The board, interim management and employees face the central task of maintaining business continuity while completing a smooth handover of leadership to ensure Nvidia continues to play a key role in accelerated computing and artificial intelligence.
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