Jensen and Lori Huang's Nvidia fortune is jointly controlled. How that makes things complicated now that he's resigned

Nvidia CEO Jensen Huang is stepping down from his roles as president, chief executive, and board member. Following his immediate departure, CFO Colette Kress will serve as interim CEO while the company searches for a permanent successor, according to RTHK News - Finance and CoinDesk. The company has also named Harvey Jones, a former Synopsys CEO and board member, as its first board chairman.

The leadership change follows reports regarding extramarital affairs. City AM reports that Nvidia's board met Wednesday to consider Huang's ouster after news surfaced of a relationship with an employee who reported directly to him. This follows reports of a separate affair with a businesswoman whom US authorities suspect of spying for Beijing, an allegation China has dismissed as baseless.

City AM cites The New York Times as reporting that the relationship with an employee involved Nvidia’s vice president of healthcare, Kimberly Powell.

The news has impacted markets, with Nvidia shares falling more than 10 percent in premarket trading according to RTHK News - Finance, while CoinDesk reported a 10% drop to $156. CNBC reports that Huang’s $140 billion stake in Nvidia is largely held in trusts co-owned with his wife, Lori, creating uncertainty for his financial future. Huang holds a stake of approximately 3.61 percent in the company.

Brief written by urgent.news from CNBC, RTHK News - Finance, CoinDesk, City AM — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.