Nvidia officially announced a major CEO transition on Thursday, November 12, 2026, confirming that co-founder and chief executive Jensen Huang has stepped down from all leadership roles at the semiconductor powerhouse.
Huang resigned as president, chief executive officer, and member of the board of directors with immediate effect. The decision ends his 33-year tenure at the helm of the company he founded in 1993 and guided into a multi-trillion-dollar engine of the global artificial intelligence boom.
The Santa Clara, California-based chipmaker confirmed the move in a regulatory filing and a formal statement from its board of directors.
CFO Colette Kress Steps In as Interim Chief Executive
Nvidia named current executive vice president and chief financial officer Colette Kress as interim chief executive officer. Kress will manage both executive roles simultaneously while the board conducts a comprehensive search for a permanent leader.
Kress joined Nvidia in September 2013 following senior finance leadership roles at technology firms Cisco and Microsoft. Over the past decade, she directed the company’s capital allocation and financial operations during its historic climb to the top of Wall Street.
The board expressed complete support for Kress and emphasized that customer deliveries, daily operations, and technical roadmaps will continue without interruption.
Board Reorganises Leadership as Harvey Jones Takes Chair
Alongside the executive handover, Nvidia appointed veteran director Harvey C. Jones as its first-ever independent chair of the board. Jones has served on Nvidia’s board for three decades and previously led chip design automation company Synopsys.
Jones stated that Kress possesses deep command over Nvidia’s operations, customer partnerships, and financial position. He added that an experienced executive bench remains in place to carry out the firm’s long-term artificial intelligence roadmap.
The board confirmed that its search committee will evaluate both internal leaders and external executives for the permanent chief executive post.
Scrutiny and Market Volatility Preceded Departure
Huang's sudden exit followed days of intense public scrutiny, reporting by major financial outlets, and an internal board investigation into undisclosed personal relationships.
Company shares experienced sharp market volatility in recent sessions, slipping significantly as investors weighed leadership stability at the world's most valuable chip supplier.
Huang had co-founded Nvidia at a Denny's diner in 1993, pioneering the graphics processing unit (GPU) that revolutionized 3D computer graphics before transforming into the primary computing hardware used to train modern artificial intelligence models.
What Happens Next for the AI Industry Leader
Nvidia entered this transition facing high stakes across global supply chains, enterprise hardware commitments, and expanding geopolitical trade controls on advanced semiconductors.
The company reaffirmed its planned product rollouts and declared that manufacturing schedules with partners like TSMC remain on track. Financial analysts will closely watch Nvidia's upcoming earnings briefing, where Kress will outline operational priorities and address corporate governance questions.
