Nvidia Begins CEO Search as Petition to Reinstate Huang Tops 115,000

Nvidia's board has launched a search for a permanent chief executive after the resignation of longtime leader Jensen Huang, with Chief Financial Officer Colette Kress running the AI chipmaker on an interim basis, the company said.

Huang resigned as president, CEO and a board member effective immediately, according to a Nov. 12 statement from Nvidia. The board said it is considering both internal and external candidates for the permanent role.

Who is in charge now

Kress, who has served as Nvidia's executive vice president and CFO since September 2013, agreed to serve as interim CEO while keeping her finance duties. Nvidia said Kress spent nearly 25 years in finance roles at technology companies including Cisco and Microsoft before joining the chipmaker.

The board also appointed Harvey C. Jones as its first-ever chair. Jones has been an entrepreneur, technology executive and venture investor for more than 30 years, including a stint as CEO and executive chairman of chip-design software firm Synopsys.

"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 statement.

Kress said the company would "continue advancing the work that has made NVIDIA a leader in accelerated computing and AI." In an email to employees obtained by CNBC, she called the period "extraordinarily difficult" and thanked staff for their "resilience, professionalism and continued dedication." Nvidia planned an all-company meeting for Nov. 18.

Pressure to reverse course

The resignation followed reports of two extramarital affairs, one involving a woman described in news accounts as an alleged agent of the Chinese government. Nvidia had earlier opened an investigation into the relationship.

A petition calling on Nvidia to reinstate Huang has drawn more than 115,000 signatures, and tech executives including Elon Musk have signed it, TechCrunch reported. Business Insider reported organizers say about 50,000 shareholders and 5,000 current employees signed.

The leadership change comes as Nvidia prepares to report third-quarter fiscal 2027 results on Nov. 17, a date the company said was unchanged. Nvidia, one of the world's most valuable companies, supplies the chips that power most large-scale AI systems.