Nvidia chief Jensen Huang resigns as board begins search for successor

Nvidia’s board accepted Huang’s resignation as chief executive, president and board member on Wednesday, effective immediately, according to a filing with US regulators. The company announced the change on Thursday but did not give a reason for his departure.

Kress, who has been Nvidia’s chief financial officer since 2013, will retain that role while serving as interim chief executive. The board said it would consider internal and external candidates for a permanent successor. It also appointed Harvey Jones, a board member since 1993, as its first chair.

The resignation follows reports about Huang’s personal relationships. Nvidia’s board had previously opened an independent investigation into his reported relationship with businesswoman Alice Huang, according to Axios.

Nvidia shares fell more than 10% following news of the resignation, Axios reported.