Jensen Huang Exits Nvidia After 33 Years; Shares Fall Over 10% Premarket

Jensen Huang has stepped down from his roles as Nvidia’s president, chief executive, and board member with immediate effect on November 12, bringing a 33-year tenure to a close. NVDA shares dropped over 10% during premarket activity before stabilizing at $160.28—marking a 7.7% decline—shortly after the opening bell.

Chief Financial Officer Colette Kress has stepped in as interim CEO, managing both corporate operations and financial duties while the board looks for a permanent successor.

Jensen Huang Resigns and Puts Kress in Charge Immediately

Nvidia announced Huang’s abrupt departure on Thursday, noting that it will evaluate both internal and external prospects. Kress has overseen the company’s financial operations since 2013.

Related: Nvidia Perpetuals Fall 10% as Board Reportedly Weighs Ousting Huang

Additionally, the board appointed Harvey Jones as Nvidia’s inaugural chair. Without disclosing a specific reason for Huang’s exit, the board expressed gratitude for his “immeasurable contributions to the company and the industry.”

NVIDIA announces CEO transition. Read the release: https://t.co/MTTUvFHCJA

— NVIDIA Newsroom (@nvidianewsroom) November 12, 2026

NVDA Shareholders Face Losses and a Proposed Class Action

The stock plummeted more than 10% prior to the market opening, bottoming out at $148.80 before bouncing back to $160.28 at the start of regular trading. This followed a difficult week in which Nvidia lost approximately $430 billion in market capitalization over two days. Investors now must navigate a search for a permanent CEO alongside upcoming earnings reports.

A proposed shareholder class action further complicates matters. On Monday, a shareholder filed a lawsuit claiming that Nvidia and Huang provided misleading information to investors regarding Huang’s personal relationships.

Nvidia’s Leadership Inherits an Inquiry and Succession Gap

The board initiated an independent probe on November 8, four days after Huang disclosed infidelity in an employee memo. His resignation materialized almost immediately afterward.

According to The New York Times, Huang maintained relationships with Alice Huang, an executive at Nvidia client Megaspeed, and separately with Kimberly Powell, Nvidia’s vice president of health care who reported directly to him. The publication also stated that U.S. officials viewed Alice Huang as a Chinese intelligence asset—a claim denied by China.

Huang leaves behind a flattened, complex management hierarchy. Roughly 60 executives answered directly to him, and he had previously stated that he did not believe in succession planning. The Financial Times identified Nvidia data center leader Ian Buck and Arm CEO Rene Haas—a former Nvidia executive—as potential candidates under board consideration. For the time being, Kress occupies the office.

Nvidia Customers and Investors Look to Earnings and Continuity

Jones informed stakeholders that the board anticipates “the company’s operations, customer commitments and product roadmap to continue without interruption.” Consequently, execution under Kress serves as an immediate test, with awaiting clients monitoring delivery timelines closely.

Nvidia’s third-quarter financial results are set to be released on Tuesday, offering investors a tangible milestone alongside the ongoing CEO hunt. Kress affirmed her dedication to advancing the foundation Huang established over his 33 years leading the organization.

FAQ

Which Nvidia positions did Huang leave on November 12?

Huang relinquished the presidency, chief executive position and board seat together. All three departures took effect immediately on November 12, 2026.

Will Colette Kress remain CFO while serving as interim CEO?

Yes. Kress will retain the finance role she has held since 2013 while also serving as interim chief executive during the board’s search.

When will Nvidia report its third-quarter results?

Nvidia said it would release third-quarter results on Tuesday as scheduled. The leadership transition did not change that earnings timetable.

Who is Harvey Jones, Nvidia’s newly appointed board chair?

Jones previously served as CEO and executive chairman of chip design software company Synopsys. His appointment makes him the first board chair in Nvidia’s history.

How large is Huang’s remaining stake in Nvidia?

Huang retains about 3.6% of Nvidia, according to Wall Street Journal coverage cited by Decrypt. That holding leaves him the company’s largest shareholder following his departure from management and the board.

This article is for information only and is not financial advice.

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