Reports prompt scrutiny as Nvidia CEO Jensen Huang resigns amid Chinese scandal
Leadership changes at Nvidia
Nvidia announced that Huang’s resignation as CEO and board member took effect immediately. The company’s chief financial officer and executive vice president, Colette Kress, will serve as interim CEO.
The board said it will consider candidates from inside and outside the company for the permanent role. Nvidia shares dropped 10% in premarket trading and were down 13% after markets opened Thursday.
Reports of relationships
The resignation followed reports that Huang had two extramarital relationships. One reportedly involved a woman whom U.S. intelligence officials believed to be a Chinese asset; another was reported to involve Kimberly Powell, Nvidia’s vice president of healthcare. Huang apologized in a Sunday statement, saying, “I was unfaithful to my wife.” He also said his actions hurt his wife and children, but did not identify the person involved.
Questions for officials
President Donald Trump said Monday that Huang told him he had no idea the woman was an operative for Beijing, adding, “I really believe him.” Trump had previously called Huang an “honorable guy” and praised Nvidia’s contributions to the U.S. economy.
Key points
- Colette Kress will lead Nvidia temporarily while the board searches for a permanent CEO.
- Huang also resigned from Nvidia’s board, effective immediately.
- Reports describe two extramarital relationships, including one involving a woman suspected by U.S. intelligence of working for China.
- Democrats are expected to examine what Trump and Commerce Secretary Howard Lutnick knew.