After last night's Wall Street Journal report that Nvidia's board was preparing to act, I figured we'd get a few more days of limbo.
After last night's Wall Street Journal report that Nvidia's board was preparing to act, I figured we'd get a few more days of limbo. Instead the board moved this morning. Jensen Huang has resigned as president, CEO and board member, effective immediately, ending 33 years as CEO of the company he co-founded in 1993.
Colette Kress, the CFO since 2013, is interim CEO and keeps her CFO title until a permanent successor is named. The board is looking at internal and external candidates. In the same announcement Nvidia named Harvey Jones its first-ever board chair, and Jones said the board expects operations, customer commitments and the product roadmap to continue without interruption. The release doesn't give a reason for the resignation.
The speed is what stands out to me. On Sunday the board said it had confidence in Huang while opening an independent investigation into reports he may have been targeted by a foreign intelligence effort. Then on Wednesday The New York Times reported a second alleged relationship, this one with a company executive, and by Thursday morning he was out.
The stock opened at $150.99 and fell as far as $148.80, down 14.35%, before clawing back to close at $165.29, down 4.86%. It's at $166.55 after hours.
Nvidia reports earnings next Tuesday, November 17, on a market value of roughly $4 trillion, with analysts looking for $2.47 a share on about $108.8 billion in revenue. Kress will be standing up there as CEO and CFO at the same time, five days into the job. I'm curious how much of that call ends up being about the numbers versus who's actually steering the roadmap.
Sources:
Nvidia Investor Relations: https://investor.nvidia.com/news/press-release-details/2026/NVIDIA-Announces-CEO-Transition/
CNN: https://edition.cnn.com/2026/11/12/tech/jensen-huang-nvidia-resigns
TechCrunch: https://techcrunch.com/2026/11/12/jensen-huang-is-out-at-nvidia-who-is-colette-kress-his-interim-replacement/
Not financial advice. For informational and educational purposes only.