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Nvidia shares came under heavy selling pressure in Thursday's trade, falling 14.3% to $148.80 after the world's most valuable chipmaker announced a sudden leadership shake-up, with Jensen Huang stepping down as President and Chief Executive Officer (CEO) with immediate effect.
The company announced that its board of directors had accepted Huang's resignation, ending his 33-year tenure at the helm of the chipmaker. Colette Kress, Nvidia's long-serving Chief Financial Officer (CFO), has been appointed interim CEO while the board begins its search for a permanent successor.
The leadership transition has raised concerns among investors about the company's future direction without Huang, who has been instrumental in transforming Nvidia from a graphics chipmaker into a global powerhouse in artificial intelligence (AI) and accelerated computing. Nvidia shares had already plunged nearly 9% in after-hours trading following reports that the board was considering Huang's removal, with the stock extending its losses amid the leadership uncertainty.
Kress, who joined Nvidia in September 2013, will continue to serve as CFO alongside her interim CEO responsibilities until a permanent successor is appointed. The board said it would consider both internal and external candidates for the position.
Meanwhile, Harvey C. Jones, a veteran technology executive and former CEO and executive chairman of Synopsys, has been appointed as Nvidia's first-ever chairman of the board.
In a statement, Jones expressed confidence in Kress and the existing leadership team, saying they would continue executing the company's strategy and advancing its technology roadmap. He also sought to reassure investors that the transition would not disrupt Nvidia's operations, customer commitments or product roadmap.
Kress also pledged to build on the foundation established by Huang and maintain the company's focus on accelerated computing and AI opportunities.
The leadership shake-up comes at a crucial time for Nvidia, which is scheduled to report its third-quarter fiscal 2027 financial results on November 17. Investors will now be watching closely for further clarity on the succession process and whether the transition could have any bearing on the company's long-term strategy and execution.
Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.
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