Nvidia founder Jensen Huang resigns amid scrutiny of reported relationships

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.

Update

Nvidia co-founder Jensen Huang has resigned as chief executive and left its board, ending more than three decades at the helm of a company whose chips power much of the artificial intelligence industry.

The board accepted his resignation on 11 November with immediate effect, according to a filing with US regulators. Chief financial officer Colette Kress has taken over as interim chief executive while Nvidia searches for a permanent successor.

Reuters reported that the board met to consider removing Huang after a report that he had a relationship with another Nvidia executive. BBC technology editor Zoe Kleinman wrote that, after rumours of a second affair with a colleague emerged, the board decided Huang had gone too far. Nvidia’s departure announcement gave no reason for his resignation, however, and the board’s reasoning remains unclear.

The New York Times reported that Huang had an extramarital relationship with Kimberly Powell, Nvidia’s vice-president of healthcare, who reported to him. The article, republished by The Business Times, cited five anonymous people who had worked at Nvidia. Two described a video said to show the pair being affectionate at a hotel in March; the newspaper said it had not seen the video.

Asked about Powell by telephone, Huang did not address the allegation, the newspaper reported. Nvidia declined to provide a statement and Powell did not immediately respond to a request for comment.

On 8 November, Huang had told Nvidia staff that he had been unfaithful to his wife, without naming anyone. His statement did not confirm the reported relationship with Powell.

That same day, Nvidia announced an independent investigation after reports that Huang had been targeted by a foreign intelligence operation. Reuters reported that US authorities suspected a separate businesswoman, Alice Huang, of being a Chinese intelligence asset; Beijing has denied she is a spy. Nvidia’s board said it had no reason to believe US national security or company secrets had been compromised.

The independent directors appointed lawyer Joon H. Kim and his firm to conduct the investigation on 10 November. It remains unclear whether the inquiry will continue after Huang’s departure or whether it covers the allegation involving Powell.