Jensen Huang, who co-founded Nvidia in 1993 and led it for over three decades, has resigned as CEO. His departure follows an extramarital affair scandal and an investigation by Nvidia’s board into concerns about possible foreign intelligence activities involving him.
Colette Kress, Nvidia’s current Chief Financial Officer, will step in as interim CEO while the search for a permanent replacement is underway. “Nvidia’s strength has always come from its people,” Kress stated, “and together with our leadership team, I am committed to building on the extraordinary foundation Jensen created over the last 33 years.”
Nvidia’s share value dropped 10% in premarket trading shortly after the news was made public.
Earlier this week, an internal memo from Huang admitted to being unfaithful to his wife. Reports from The New York Times indicated a “close relationship” between Huang and Alice Huang, an executive at Megaspeed, a Singapore-based cloud provider linked to Nvidia. Alice Huang is suspected by US officials to have been recruited for espionage to collect Nvidia-related information for the Chinese government. Additionally, Megaspeed faces scrutiny over suspicions that it enabled China to access restricted Nvidia chips.
Separately, unconfirmed sources reported by The Times suggest that Huang also had a relationship with Kimberly Powell, Nvidia’s vice president of healthcare.
This situation is still unfolding and may continue to develop as more information emerges.
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