Jensen Huang, co-founder and long-serving chief executive of Nvidia, has resigned with immediate effect, ending more than three decades at the helm of one of the world's most influential technology companies. The announcement was made on Thursday, November 12, following reports about Huang’s alleged extramarital relationships. Nvidia confirmed that Huang had stepped down as president, chief executive officer and a member of the company’s board of directors. The company’s board appointed Chief Financial Officer Colette Kress as interim CEO while it begins the search for a permanent successor. ALSO READ: Paraguay President Pena resigns in wake of bank collapse In its announcement, Nvidia said Huang’s contributions to the company and the technology industry had been profound, thanking him for his leadership. The resignation follows an independent investigation launched by Nvidia’s board after reports raised concerns that Huang may have been targeted by a foreign intelligence operation. According to reports, one of the relationships involved Alice Huang, a former executive at Chinese technology company Megaspeed. US intelligence officials reportedly suspected her of gathering information for China. Beijing has denied the spying allegations, while Nvidia previously said it had no reason to believe that US national security or company secrets had been compromised. ALSO READ: Christiane Amanpour to leave CNN after 43 years Huang’s departure comes at a significant moment for Nvidia, which has become a central supplier of advanced chips used to develop and operate artificial intelligence systems. Founded in 1993, the company grew under his leadership from a graphics-chip maker into a major force in the global AI industry. The leadership change has also unsettled financial markets. Nvidia shares fell by more than 12 per cent following news of his resignation, with reports estimating that the company lost hundreds of billions of dollars in market value. Kress, who joined Nvidia in 2013, will continue serving as the company’s CFO while taking on the interim leadership role. The board said it would consider both internal and external candidates for the permanent position.
