Jensen Huang is stepping down as chief executive officer of Nvidia, marking a major leadership shake-up at the world’s leading artificial intelligence chipmaker amid a controversy surrounding his personal relationships and questions over corporate governance.
Nvidia announced on Thursday that its chief financial officer, Colette Kress, will take over as interim CEO while the company searches for a permanent successor. Huang will also step down from the company’s board, ending his leadership of the business he co-founded in 1993.
The company has appointed former Synopsys chief executive and Nvidia board member Harvey Jones as its first-ever board chairman.
Huang, 63, owns approximately 3.61 per cent of Nvidia, making him the company’s fourth-largest investor. His departure comes at a crucial time for the technology giant, which has become a central player in the global artificial intelligence industry.
The leadership change follows mounting scrutiny over reports of two alleged extramarital relationships involving Huang. One involved Alice Huang, a former executive at Singapore-based cloud company Megaspeed, whom US authorities reportedly suspect of having links to Chinese intelligence. Beijing has denied the allegations.
The controversy intensified after The New York Times reported that Huang had also been involved in a relationship with Kimberly Powell, Nvidia’s vice president of healthcare, who reportedly worked under him. Reuters said it could not independently verify the latter report.
Earlier this month, Nvidia’s board had initiated an independent investigation into whether Huang had been targeted as part of a foreign intelligence operation. The probe was being overseen by independent directors with assistance from external legal counsel. The board had initially expressed confidence in Huang and his leadership team.
The Nvidia board reportedly met on Wednesday to consider Huang’s future following the latest revelations. US President Donald Trump had also expressed support for the technology executive, saying Huang had done an excellent job for the country.
Nvidia shares fell more than 10 per cent in premarket trading on Thursday, weighing on broader market sentiment.
Nvidia, which has grown into a company valued at around $4 trillion, is now preparing for a leadership transition as investors await its quarterly financial results, scheduled for November 17.
