Nvidia has announced a dramatic leadership change. Jensen Huang, who co-founded the company and has served as CEO, President, and Director for 33 years, has abruptly stepped down from all those roles effective immediately. The board’s announcement came amid reports that Huang was involved in affairs with an alleged Chinese spy and with one of his direct subordinates. With no existing designated successor in place, the company moved swiftly to name a new interim leader.
Who’s Taking the Helm: Colette Kress Steps In on an Interim Basis
Effective immediately, Colette Kress, Nvidia’s Chief Financial Officer and Executive Vice President, has been appointed interim CEO while the company searches for a permanent replacement. Kress has been with Nvidia since September 2013, bringing nearly a decade and a half of experience in executive finance leadership. Before joining Nvidia, she served as Senior Vice President and CFO of Cisco’s Business Technology Operations Finance unit. Earlier in her career, she spent 13 years at Microsoft, including four years as CFO of its Server and Tools division.
Kress’s Background and Financial Standing
Kress, 59, holds a finance degree from the University of Arizona and earned an MBA from Southern Methodist University. Despite a relatively modest public profile—she maintains little presence on platforms like LinkedIn—she has regularly represented Nvidia in earnings calls, making her a familiar figure among analysts and investors. Estimates put her net worth at roughly $1.2 billion, placing her among the ranks of America’s self-made women in Forbes’s listings. Interestingly, her attraction to Nvidia reportedly stemmed in part from her sons, who admired the company’s video game pedigree—a legacy predating its current dominance in AI.
The board’s statement regarding her interim appointment emphasized continuity. Kress pledged to build on the foundation established by Huang, ensuring Nvidia remains on track in accelerated computing and artificial intelligence, with a continued focus on customers, partners, developers, and shareholders. The company is scheduled to report its next quarterly earnings soon, providing Kress a first public test of her leadership in this new role.
Context: Huang’s Departure and What It Means
No one saw this coming. Huang had been Nvidia’s face and driving force since its inception. Until now, there was no formal succession plan in place—a fact now seen as an oversight given his sudden departure. The allegations that precipitated his exit—namely, affairs with an alleged foreign intelligence asset and a direct report—triggered questions around governance and personal conduct at the top.
Nvidia’s market value hovers around $3.8 trillion, reflecting its central role in supplying the processing power behind much of today’s AI boom. With a founder-led regime now ending abruptly, stakeholders in the company — from partners and developers to engineers and shareholders — are likely watching closely for signs of internal stability or turmoil.
Moving forward, the biggest challenge for Kress will be proving she can steady the ship through earnings season, reassure investors that governance lapses will be addressed, and lead in innovation while distancing the company’s future from the controversies surrounding Huang’s exit.
