Jensen Huang has resigned as Nvidia’s president and chief executive, Nvidia said Thursday, as the chipmaker faces scrutiny over reports linking him to a suspected Chinese intelligence operative.
His departure takes effect immediately, and he also leaves the board. Chief Financial Officer Colette Kress will serve as interim chief executive while keeping her finance role.
The board will consider internal and external candidates for a permanent replacement. It also named Harvey C. Jones as its first board chair.
Nvidia shares fell more than 13% at the opening bell Thursday before recovering some ground to trade about 5% lower early in the session.
The board met Wednesday evening to discuss Huang’s future, CNN reported, citing two people familiar with the matter.
That meeting came after The New York Times reported that Huang had another extramarital relationship, with an Nvidia executive. Nvidia did not immediately comment on that report.
Investigation opened Nov. 8
On Nov. 8, Nvidia announced an independent investigation into reports that Huang had been targeted by a foreign intelligence effort. A committee of independent directors, working with outside lawyers, is overseeing the review.
The board said then that it had no reason to believe national security or Nvidia’s secrets had been compromised. China has denied trying to ensnare Huang.
In a message to employees that day, Huang admitted being unfaithful to his wife and apologized to his family and colleagues. He said he supported the investigation and would cooperate fully.
Kress has been Nvidia’s chief financial officer since September 2013. The company said its third-quarter results will be released Nov. 17 as scheduled.