Jensen Huang resigned as Nvidia’s president, chief executive officer, and board member, effective immediately. The departure followed reported allegations involving Huang and a person whom U.S. officials reportedly suspected of acting as a Chinese intelligence asset, according to AP News. Reports from the BBC also described a separate alleged relationship involving an Nvidia executive; both matters remain allegations, not established findings.
Markets reacted quickly. Nvidia shares fell more than 13% at the open after news of the resignation broke, according to BBC reporting.
Thirteen Years at the Center of Nvidia’s Finances
Kress brings more than a decade of direct institutional knowledge to a role she did not seek under ordinary circumstances.
Colette Kress joined Nvidia in September 2013 and has served as executive vice president and chief financial officer since then. Before Nvidia, she spent three years as senior vice president and CFO of Cisco’s Business Technology and Operations Finance organization. Her career also includes 13 years at Microsoft, where she served as CFO of its Server and Tools division, along with earlier finance roles at Texas Instruments.
Her academic background includes a finance degree from the University of Arizona and an MBA from Southern Methodist University.
Kress has appeared regularly alongside Huang on Nvidia’s earnings calls, presenting financial results and fielding questions from analysts. She is not an unfamiliar face to investors, and she understands how Nvidia discusses its business publicly. Current and former colleagues described her as knowledgeable, thoughtful, and clear-headed, according to CNBC.
What “Interim CEO” Actually Means Here
Kress retains her CFO title while the board conducts an open search, leaving the permanent succession question unresolved.
Nvidia said Kress will retain her CFO responsibilities while serving as interim chief executive. She is managing both roles during a period of significant public scrutiny.
The board was explicit on succession: it will consider both internal and external candidates for the permanent CEO role. Kress is not a confirmed successor. Her appointment is a continuity decision, intended to keep operations and strategic execution moving while that search proceeds.
The immediate challenge is considerable. Nvidia competes in a rapidly expanding AI-chip market, with customers, developers, partners, investors, and regulators watching closely. How the company navigates a sudden leadership transition at this scale carries real consequences for all of them.
What Kress Has Said
Her public statement signals continuity and focuses on the stakeholders Nvidia serves.
Kress stated that Nvidia would continue advancing accelerated computing and AI, and would remain focused on customers, partners, developers, and shareholders. The statement reflects the priorities she has articulated throughout her tenure as CFO.
The board’s next move, and whether Kress is part of the permanent answer, remains unresolved.
