Jensen Huang has resigned as chief executive, president, and board member of Nvidia, effective immediately. His departure follows reports of extramarital affairs, including one with an alleged Chinese spy and two company employees.
Colette Kress, Nvidia’s chief financial officer, will take over as interim chief executive until a permanent successor is appointed. The company's board stated it would consider both internal and external candidates for the role.
Following the announcement of Huang's resignation, shares in the chipmaker plunged by 13% at the opening of Wall Street. After a partial recovery, they closed down 4.3% on Thursday, which reportedly wiped more than $180bn off Nvidia’s value on the day.
Nvidia's board of directors confirmed Huang's departure in a statement, which did not mention the alleged spying scandal or personal conduct revelations. Instead, the statement paid tribute to Huang's "profound" contributions to the company he co-founded.