Down and out, Jensen Huang’s leaves Nvidia with a huge hole to fill
Landon Capital News
Nvidia (NASDAQ: NVDA) shares plunged on Thursday after CEO Jensen Huang resigned with immediate effect, ending his 33-year tenure at the chipmaker as the company grapples with a growing governance crisis involving allegations of personal misconduct and potential national-security implications.
The stock was last down 7.5%, on track to wipe off more than $300 billion in market value.
The company announced that Colette Kress, Nvidia’s executive vice president and chief financial officer, would take over as interim CEO while the board searches for a permanent successor. Kress will retain her CFO responsibilities during the transition, with the search open to both internal and external candidates.
Harvey C. Jones, a longtime technology executive and venture investor who previously served as CEO and executive chairman of Synopsys, was appointed Nvidia’s first-ever chairman of the board.
The departure represents one of the most consequential leadership transitions in the technology industry. Huang co-founded Nvidia in 1993 and transformed it from a graphics-chip maker into the dominant supplier of processors powering the artificial intelligence boom. His departure invites comparisons with Steve Jobs leaving Apple, given how closely Nvidia’s identity, technological ambitions and strategic direction have been associated with its founder.
The announcement follows several days of mounting pressure on Huang after reports of two extramarital relationships triggered scrutiny of his conduct and raised questions about corporate governance at the world’s most valuable chipmaker.
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