Jensen Huang ousted as NVIDIA CEO. Company shares plunge 10%

NVIDIA founder and CEO Jensen Huang has resigned after 33 years at the helm of the company. Nvidia Chief Financial Officer Colette Kress will serve as interim CEO. The company has also begun the search for a permanent successor.

News of Huang’s departure triggered a sharp reaction in the stock market. Nvidia shares fell by about 10% in pre-market trading.

The situation surrounding the Nvidia chief escalated following reports about his personal relationships with two women. The first is Alice Huang, a former employee of Singaporean tech company Megaspeed. According to US intelligence agencies, she may have been linked to Chinese intelligence. These suspicions prompted an investigation initiated by Nvidia’s board of directors.

Jensen Huang himself previously admitted to having an extramarital relationship and apologized to his family and the company’s employees. He also expressed his willingness to cooperate with the investigation.

Additional pressure was mounted on Nvidia’s leadership by a report in The New York Times about Huang’s alleged relationship with another woman—an employee of Nvidia itself. According to Reuters, it was this series of reports that led to emergency discussions by the board of directors regarding the CEO’s future.