Nvidia (NASDAQ: NVDA) is preparing for a leadership transition after co-founder Jensen Huang stepped down as CEO, President and a member of the board with immediate effect. CFO Colette Kress has taken over as interim CEO while the company searches for a permanent successor.
The leadership change follows days of controversy surrounding reports about Huang’s personal life. Following the announcement, Nvidia shares fell 10% to $156 in premarket trading. Reports also suggest that around $600 billion in market value has disappeared from the company this week.
The news also triggered liquidations among traders. One trader, 0x7368, was reportedly fully liquidated on an Nvidia long position, losing 9,959 NVDA shares worth approximately $1.54 million.
Who Is Colette Kress, Nvidia’s Interim CEO?
Colette Kress has served as Nvidia’s Chief Financial Officer since 2013. She played a key role in managing the company’s financial strategy and investments during its growth into a major AI chipmaker.
Before joining Nvidia, Kress held senior finance positions at Microsoft, Cisco and Texas Instruments. She brings decades of experience in the technology industry.
Kress will continue serving as CFO while taking on the interim CEO role. Nvidia’s board will consider both internal and external candidates before appointing a permanent successor.
Nvidia Appoints Harvey C. Jones as First Board Chair
Alongside the CEO transition, Nvidia has appointed Harvey C. Jones as its first Chair of the Board. Jones brings more than 30 years of experience in technology leadership and venture investing. He previously served as CEO and Executive Chairman of Synopsys.
The board has expressed confidence in Kress and Nvidia’s existing leadership team as the company works to maintain business operations and its AI product roadmap during the transition.
Meanwhile, Nvidia’s Q3 fiscal 2027 earnings remain scheduled for November 17, with results expected at approximately 1:20 p.m. PT.
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