Nvidia CEO Jensen Huang has resigned with immediate effect, while long-time CFO Colette Kress has been appointed interim CEO and Harvey Jones has been named Chair of the Board. Third-quarter results are scheduled to be released on November 17. Nvidia shares are extending losses ahead of the US market open and are now down nearly 10% at around $156 per share.
Jensen Huang resigns as Nvidia CEO with immediate effect
Nvidia’s Board of Directors announced that Jensen Huang has resigned as President, CEO and a member of the Board, effective immediately. The move brings to an end a period of more than three decades during which Huang co-founded Nvidia and transformed it from a graphics-chip maker into one of the world’s most important AI infrastructure companies. The company stressed that the leadership change should not disrupt day-to-day operations, customer commitments or the product development roadmap. At the same time, Harvey C. Jones was appointed the first-ever Chair of Nvidia’s Board of Directors.
Colette Kress takes over as interim CEO as Nvidia begins search for a successor
Colette Kress has been appointed interim CEO. She has served as Nvidia’s CFO since September 2013 and will continue in that role during the transition period. Kress is one of the longest-serving members of Nvidia’s current leadership team and has overseen the company’s finances during its most significant phase of expansion, including the rapid growth of the data center business, AI accelerators, revenue and capital spending. Before joining Nvidia, she spent nearly 25 years in finance roles at major technology companies, including Cisco and Microsoft.
The Board has also begun a search for Huang’s permanent successor and plans to consider both internal and external candidates. The next major test for the new leadership team will be Nvidia’s fiscal Q3 2027 earnings release, scheduled for November 17. Investors will be watching not only the financial results, but also whether the leadership change affects Nvidia’s strategy, relationships with major customers and the pace of execution across its next-generation AI product roadmap.
Nvidia stresses continuity of strategy and product roadmap
The Board emphasized that the CEO transition should not disrupt Nvidia’s operations, customer commitments or the development of future product generations. Harvey C. Jones said Kress will be supported by an experienced management team that has been instrumental in executing Nvidia’s strategy and advancing its technology roadmap. Kress herself signaled continuity, with a continued focus on accelerated computing and artificial intelligence. For the market, the key question will now be whether Nvidia can maintain execution momentum and its relationships with major customers following the departure of its long-time leader.
NVDA.US chart (D1 interval)
Nvidia shares are trading at their lowest level since late June 2025 ahead of the US market open, at around $156. Since then, quarterly revenue has increased from roughly $44 billion to more than $96 billion, or by about 118%, while GAAP net income has more than tripled. As a result, the stock’s forward 12-month price-to-earnings multiple would fall to around 11x. If Huang’s resignation does not lead to a lasting deterioration in market sentiment or negatively affect the company’s operating performance, the lower valuation could support a rebound over the medium to longer term.
Source: XTB
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