Key Highlights

  • Colette Kress, Executive Vice President and Chief Financial Officer since September 2013, becomes interim chief executive and keeps her finance duties until a permanent successor is named, according to the company release.
  • Nvidia shares were trading down about 11.93% at USD 153.00 in pre-market on Thursday, November 12, 2026, per market data; other reports put the move between about 9% and 12%.
  • The board has started a search of internal and external candidates, with no timetable or search firm named, and has appointed Harvey C. Jones as its first-ever chair.
  • Third-quarter fiscal 2027 results are scheduled for November 17, 2026, five days after Huang's resignation as president, chief executive and director took effect immediately.

A Finance Chief Takes Both Jobs After Huang's Exit

Nvidia (NASDAQ:NVDA) announced before the US open on Thursday that co-founder Jensen Huang had resigned as president, chief executive and board member, effective immediately. The release named Colette Kress as interim CEO while she remains Executive Vice President and CFO, a dual role that lasts until a permanent successor is named. The release gave no reason for the departure and no quote from Huang. It also did not say whether he keeps any adviser or employee role, or address severance or his equity. Published coverage described the wording as a resignation, while some reports had described him as removed, and the release does not settle that difference.

Who Kress Is: Microsoft, Cisco and 13 Years at Nvidia

Kress has held the CFO post since September 2013, according to a company filing. When she was hired, published profiles said she had spent more than a decade at Microsoft, including about four years as finance chief of its server and tools business, and about three years at Cisco as senior vice president and CFO of its Business technology and operations finance group. Earlier finance roles at Texas Instruments were also reported. Her record is therefore in financial planning, reporting and Capital allocation rather than product design, and she has spent years presenting Nvidia's results to investors.

The Calendar Before November 17 and the Open Questions

The most immediate test is third-quarter fiscal 2027 Earnings on November 17, 2026, which Kress would ordinarily present as CFO and now presents as interim chief executive as well. The board's independent investigation, opened on November 8 after reports of a foreign intelligence effort aimed at Huang, is also continuing. Nvidia has not confirmed any compromise, and the board said it had no reason to believe US national security or company secrets were compromised. A research firm, KeyBanc, downgraded the stock to Sector Weight on higher execution risk, and Bernstein cut its price target to USD 200 from USD 400. The release did not say who will sign off on filings, guidance or capital plans while one executive holds both offices, or whether a second finance officer will be named.

Where Things Stand

What Kress must settle before November 17 is mostly continuity: presenting results, keeping customer and investor confidence, and supporting a board search with no stated timetable. Nvidia (NASDAQ:NVDA) shares were down roughly 9% to 12% in pre-market on Thursday, with the regular session still to come. The prior close on November 11 was USD 173.73, up 2.87% in market data. Still unknown are Huang's future role, the length of the search, the investigation's outcome and how interim authority is divided between Kress and new chair Harvey C. Jones.