Jensen Huang Is Out as Nvidia Names Colette Kress Interim CEO
CFO Colette Kress is now interim CEO while the board weighs whether a finance background is the right fit.
Nvidia Corporation (NVDA -4.74%) announced the resignation of its CEO and President, Jensen Huang, after nearly three decades with the company. Board members accepted Huang's resignation and named CFO Colette Kress as interim CEO, retaining her regular duties. Shares of Nvidia experienced a significant drop of up to 14% following the announcement, as investors grappled with the implications of a leadership change at a company with which they have long been familiar.
Colette Kress brings a wealth of experience to the role, having served as CFO for Nvidia since September 2013 and holding senior finance positions at Texas Instruments, Microsoft, and Cisco Systems. During her tenure at Nvidia, the company's annual sales grew from $4.28 billion to $215.9 billion. While Kress has proven herself to be an integral part of Nvidia's success, the board now faces the challenge of selecting a permanent replacement for Huang, a technical engineer who has been instrumental in the company's growth thus far.
Some analysts suggest internal engineers like Ian Buck and Chief Scientist Bill Dally as potential candidates for the role, with Kalshi prediction market indicating Ian Buck as the frontrunner.
Written by urgent.news from Motley Fool's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
