Colette Kress named Nvidia interim CEO as Jensen Huang resigns

What was announced. On 12 November 2026 Nvidia's board said Jensen Huang has resigned as President, Chief Executive Officer and a member of the board, effective immediately. Colette Kress, Executive Vice President and Chief Financial Officer, has agreed to serve as Interim CEO. She stays CFO while she does it, until a permanent successor is named. The board is starting a search and will consider internal and external candidates. Nvidia's release does not give a reason for the resignation.

Who Colette Kress is. She has been Nvidia's CFO since she joined in September 2013. The company says she has led its finance organization and played a key role in its growth. Before Nvidia she spent nearly 25 years in finance roles at technology companies, including Cisco and Microsoft. In the release she said she is "committed to building on the extraordinary foundation Jensen created over the last 33 years" and that the focus stays on customers, partners, developers and shareholders.

Who Harvey C. Jones is. The board named him its first-ever Chair. Nvidia describes him as an entrepreneur, technology executive and venture investor for over 30 years, including time as CEO and Executive Chairman of Synopsys. In the release he said the board has full confidence in Kress and the leadership team, and expects operations, customer commitments and the product roadmap to continue without interruption.

The market reaction. CNBC reported that Nvidia shares plunged nearly 10% on Thursday, taking the company's market value below $4 trillion. BBC reported that the shares opened down more than 13%, which wiped more than half a trillion dollars off the market value, and that by mid-morning in the US they were down about 6%. CNBC's live quote showed $165.19, down $8.54 or 4.92%, at 11:05 a.m. Eastern Time. Reuters reported that US indices opened lower: the Dow Jones Industrial Average fell 0.11% to 52,427.94 points, the S&P 500 fell 0.90% to 7,550.84 and the Nasdaq Composite fell 1.47% to 25,092.109. BBC says Nvidia is about 6% of the S&P 500 by value.

What to watch. First, the permanent CEO: the board has given no timeline. Second, Tuesday 17 November. Nvidia says it will report third-quarter fiscal 2027 results at about 1:20 p.m. Pacific Time, as previously scheduled, followed by a call at 2 p.m. Kress, now both interim CEO and CFO, is likely to face questions on leadership. That last part is our expectation, not something Nvidia has said.

Limits. The figures above are intraday moves at different times, not closing prices, and the sources round differently. Nvidia's release gives no reason for the resignation, and we do not guess at one. This is not investment advice.

Confirmed facts

• Nvidia's board announced on 12 November 2026 that Jensen Huang resigned as President, CEO and a board member, effective immediately.^[1]
• Colette Kress, Executive Vice President and CFO, agreed to serve as Interim CEO and stays CFO until a permanent successor is named.^[1]
• The board is starting a search for a permanent CEO and will consider internal and external candidates.^[1]
• The release does not state a reason for the resignation.^[1]
• Harvey C. Jones was appointed the board's first-ever Chair; he has been an entrepreneur, technology executive and venture investor for over 30 years, including as CEO and Executive Chairman of Synopsys.^[1]
• Kress has been Nvidia's CFO since September 2013; before that she spent nearly 25 years in finance roles at technology companies including Cisco and Microsoft.^[1]
• Jones said the board expects Nvidia's operations, customer commitments and product roadmap to continue without interruption.^[1]
• Nvidia will report third-quarter fiscal 2027 results on Tuesday 17 November at about 1:20 p.m. Pacific Time, as previously scheduled, with a call at 2 p.m.^[1]
• CNBC reported that Nvidia shares plunged nearly 10% on Thursday, taking its market value below $4 trillion.^[2]
• CNBC's quote showed Nvidia (NVDA) at $165.19, down $8.54 or 4.92%, at 11:05 a.m. Eastern Time on 12 November.^[2]
• BBC reported that Nvidia shares opened down more than 13%, wiping more than half a trillion dollars off its market value, and were down about 6% by mid-morning in the US.^[3]
• BBC says Nvidia accounts for about 6% of the value of the S&P 500.^[3]
• At the 12 November open the Dow fell 0.11% to 52,427.94, the S&P 500 fell 0.90% to 7,550.84 and the Nasdaq Composite fell 1.47% to 25,092.109 (Reuters).^[4]

Implications

• ConfirmedKress will hold the CEO and CFO roles at the same time until a permanent CEO is named.
• ConfirmedNvidia's third-quarter results and call are still scheduled for Tuesday 17 November.
• Our readingThe 17 November call will be the first scheduled update since the change, so leadership questions are likely. This is our expectation.

Still unknown

• Who the permanent CEO will be, and when the board will name one.
• Whether the board will pick an internal or an external candidate.
• Why Nvidia's release gives no reason for the resignation.
• Where the shares close after the intraday moves.

Who it affects

US, Global. People who hold Nvidia or index funds that include it, follow AI and chip stocks, or track big-company leadership changes

Sources

1. NVIDIA Newsroom: NVIDIA Announces CEO Transition November 12, 2026 · official
2. CNBC: Nvidia stock falls nearly 10% as CEO Jensen Huang announces resignation November 12, 2026 · media
3. BBC News: Nvidia CEO resignation: live coverage and market reaction November 12, 2026 · media
4. Reuters (via UOL Economia): Wall Street abre em baixa após a renúncia do presidente-executivo da Nvidia November 12, 2026 · media