Colette Kress named Nvidia interim CEO as Jensen Huang's abrupt resignation raises investor concerns

Detailed summary

Colette Kress, Nvidia's longtime CFO, steps in as interim CEO after Jensen Huang's abrupt resignation, with quarterly earnings looming next week.

Fox News contributor Michael Pillsbury discusses the resignation of Nividia CEO Jensen Huang and the long-term controversy with U.S. policy in China.

The abrupt resignation of Jensen Huang as CEO of Nvidia Thursday following reports he engaged in multiple extramarital affairs leaves the AI giant facing an uncertain future, and a longtime company executive is stepping in as interim CEO.

Huang co-founded Nvidia in 1993 and served as its CEO until his resignation, transforming the company from a struggling startup into one of the world's largest by market capitalization amid surging demand for its AI chips. He became a visionary and figurehead for the AI revolution.

Nvidia Chief Financial Officer and EVP Colette Kress has been named the company's interim CEO after serving as Nvidia's CFO since September 2013.

NVIDIA LOSES ITS 'GODFATHER OF AI' AND NOW FACES FIRST BIG TEST WITHOUT HIM

She has deep experience in tech finance, previously working as a CFO for Cisco's business technology and operations finance unit and was also CFO of Microsoft's server and tools division during a 13-year tenure at the software giant.

Analysts view Kress, who has featured prominently in Nvidia's quarterly earnings calls, as a steady hand who can help the company navigate a tumultuous period after the departure of its longtime leader.

Nvidia named chief financial officer Colette Kress as the company's interim CEO following Huang's resignation. (Nvidia/Handout / Reuters)

Bret Kenwell, U.S. investment analyst at eToro, said that while "Huang was more than a CEO and part of the investment thesis," the selection of longtime Nvidia executive Kress as interim CEO should "provide stability and reassurance" to investors.

Opening of the article, excerpted from Fox Business. To read the rest, open the article on the publisher's site.