Jensen Huang steps down as Nvidia CEO; Colette Kress named interim chief

This was an orchestrated takedown, in my view. The timing points to a deliberate move. I suspect the reason is that he wasn't aggressive enough in restricting China sales, or possibly looked the other way, and that those pushing a hard line on China engineered his removal.

CFO Colette Kress will serve as interim leader while the search for a permanent CEO gets under way.

Earnings remain set for November 17, unchanged from earlier plans.

The Wall Street Journal had reported earlier that the board was preparing to remove Huang, so this outcome did not come out of the blue. Shares had dropped 9% ahead of the announcement and have slid further since, now down about 11%.

Below is the official announcement:

NVIDIA Announces CEO Transition

November 12, 2026

• Jensen Huang Resigns
• Colette Kress, Executive Vice President and Chief Financial Officer, Appointed Interim CEO
• Harvey C. Jones Appointed First-Ever Chair of the Board

SANTA CLARA, Calif., Nov. 12, 2026 — The NVIDIA (NASDAQ: NVDA) Board of Directors announced today that Jensen Huang has stepped down as President, Chief Executive Officer, and a Board member, with immediate effect.

Colette Kress, currently Executive Vice President and Chief Financial Officer of NVIDIA, has agreed to take on the role of Interim Chief Executive Officer. Kress will keep her duties as Executive Vice President and Chief Financial Officer while serving as interim CEO until a permanent replacement is chosen. The Board has launched a search for a permanent Chief Executive Officer, considering both internal and external candidates.

Kress has been Executive Vice President and Chief Financial Officer of NVIDIA since joining the company in September 2013. During that time, she has run the finance organization and been instrumental in NVIDIA’s growth and transformation. Before joining NVIDIA, she spent almost 25 years in finance roles at leading technology companies, including Cisco and Microsoft.

The Board named Harvey C. Jones as its first Chair of the Board. Jones has been an entrepreneur, technology executive and active venture investor for more than 30 years, including serving as Chief Executive Officer and Executive Chairman of Synopsys.

“Colette has helped lead NVIDIA through a period of extraordinary growth and has a deep understanding of our business, customers, operations and financial position,” said Harvey Jones, Chair of the NVIDIA Board of Directors. “She is supported by an experienced leadership team that has been instrumental in executing NVIDIA's strategy and advancing its technology roadmap. The Board has full confidence in Colette and the leadership team, and we expect the company's operations, customer commitments and product roadmap to continue without interruption.”

“NVIDIA's strength has always come from its people, and together with our leadership team, I am committed to building on the extraordinary foundation Jensen created over the last 33 years,” said Colette Kress, Interim CEO and CFO, NVIDIA. “We will continue advancing the work that has made NVIDIA a leader in accelerated computing and AI, and execute on the opportunities ahead. Our focus remains on serving our customers, partners, developers and shareholders.”

Jensen's contributions to NVIDIA are profound. NVIDIA is one of the most consequential technology companies in the world. The Board and the company thank Jensen for his immeasurable contributions to the company and the industry.

NVIDIA will report third-quarter fiscal 2027 financial results on Tuesday, November 17, at about 1:20 p.m. PT, as previously scheduled, followed by the earnings call at 2 p.m. PT.