Jensen Huang resigns as Nvidia (NVDA) CEO, and CFO Colette Kress takes over as interim chief

Key points Jensen Huang resigned as Nvidia's CEO and left its board Nvidia CFO Colette Kress is interim CEO during the search Nvidia shares fell 13.4% after the open Jensen Huang has resigned as president and chief executive of Nvidia (NVDA) and left its board, effective immediately, the company announced on Nov. 12. Chief financial officer Colette Kress will serve as interim CEO while the board searches for a permanent one. Nvidia shares fell 13.4% to $150.49 shortly after the open, as of 9:31 a.m. ET, from the Nov. 11 close of $173.73. At that price, the company's market value would be about $560 billion below its value at the close. The shares closed the day down 4.3% at $166.19. The board accepted Huang's resignation on Nov. 11, according to Nvidia's filing with the SEC. That was the day The Wall Street Journal reported the board was preparing to oust him. Neither the filing nor the press release gives a reason for the resignation or describes any severance arrangement.

This excerpt comes from the named source. Read the original for the full reporting.