America’s biggest chip company is hunting for a new boss after affair allegations left its CEO with more than a marriage to answer for.
Nvidia CEO Jensen Huang resigned Thursday morning after The Wall Street Journal reported that the board was preparing to oust him over a second extramarital affair.
The Journal’s report came Wednesday, and the board reportedly met that night to discuss post-Huang plans.
The company’s stock dropped over 10% following the announcement, according to Yahoo Finance. Nvidia’s board announced that the company is searching for a new CEO and named Colette Kress, Nvidia’s executive vice president and chief financial officer, as interim CEO.
“Kress has served as Executive Vice President and Chief Financial Officer of NVIDIA since joining the company in September 2013,” said a company statement on Thursday. “During her tenure, she has led the company’s finance organization and has played a key role in NVIDIA’s growth and evolution.”
Kress reassured shareholders that the company would continue building on its leadership in accelerated computing and artificial intelligence.
“We will continue advancing the work that has made NVIDIA a leader in accelerated computing and AI, and execute on the opportunities ahead,” she said. “Our focus remains on serving our customers, partners, developers and shareholders,” Kress said.
The board revealed it will look for its next CEO both internally and externally.
Rumors of Huang’s ousting first emerged after he admitted on Sunday to an affair with an alleged Chinese spy. Huang reportedly had an affair with Alice Huang (not related), an executive at Singapore-based data center company Megaspeed. Alice Huang reportedly was sharing information she learned from Jensen Huang with Beijing. The former Nvidia boss released a statement saying he had made a mistake and pledged to fully cooperate with the board’s investigation.
“I love our country and our company. I am committed to protecting NVIDIA and supporting America’s national security. I am proud and grateful to be an American,” he said.
President Donald Trump said Huang told him he had no idea his lover was a spy. “I really believe him,” Trump said.
Huang also issued an apology to his wife and family saying, “I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry.”
On Wednesday, The New York Times revealed a second extramarital affair, this one with Nvidia’s vice president of healthcare, Kimberly Powell. According to the Times, video captured Huang and Powell being affectionate outside a hotel during an Nvidia conference in March.
Huang and his wife, Lori, have been married for more than 40 years. The two met as lab partners at Oregon State University. The couple’s children, Madison and Spencer, both work at Nvidia.
Nvidia did not immediately respond to The Daily Wire’s request for comment.
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