Nvidia has named Chief Financial Officer Colette Kress as interim CEO following the resignation of founder Jensen Huang, who stepped down as CEO and from the board. The Board has asked Kress to lead the company while it conducts a search for a permanent successor, considering both internal and external candidates. Kress has served as CFO for over 13 years and will remain in that role alongside her new position.

In an internal email to employees, board chair Harvey Jones said he will serve as the first-ever Chair of the Board. He described Kress as a key architect of Nvidia's growth and capital strategy, with a deep understanding of the business and the markets it operates in, and said the Board has full confidence in her to deliver on commitments to shareholders, customers, partners and employees. Jones also paid tribute to Huang, saying his contributions to the company are profound and that Nvidia is one of the most consequential technology companies in the world, having pioneered accelerated computing, defined the modern GPU and built the platform that powered artificial intelligence.S1

Kress sent her own message to staff thanking them for their resilience, professionalism and continued dedication during what she described as an extraordinarily difficult period. She wrote that the company's strength lies in its workforce and that it plays a vital role in building the technology powering the AI revolution. Nvidia will host a company meeting on November 18 at 9am PT, where employees are expected to hear more from leadership about the company's future.S1

Market observers have responded favourably to the appointment. Sara Araghi, a Franklin Templeton portfolio manager, said on Bloomberg Tech that Kress is a great choice to lead the company during this transition.S2