The leadership change follows reports of alleged extramarital affairs involving Huang, including one with a woman reportedly accused of being a Chinese spy, which Fox Business cited as context for the board’s decision. Harvey C. Jones, who was appointed as NVIDIA’s first-ever Chair of the Board, expressed full confidence in Kress and the existing leadership team. Jones stated that the board expects the company’s operations, customer commitments, and product roadmap to continue without interruption. “Colette has helped lead NVIDIA through a period of extraordinary growth and has a deep understanding of our business,” Jones said.
Kress, 59, has served as NVIDIA’s CFO since joining the company in September 2013. Prior to NVIDIA, she spent nearly 25 years in finance roles at major technology firms, including Texas Instruments, Microsoft, and Cisco. During her tenure at Microsoft from 1997 to 2010, she served as CFO of the Server and Tools division. At Cisco, she held the position of Senior Vice President and CFO of its Business Technology and Operations Finance organization for three years starting in 2010. According to Forbes, Kress is ranked No. 32 on the list of America’s richest self-made women, with an estimated net worth of $1.2 billion. Her NVIDIA shares were valued at roughly $750 million as of Wednesday, following a stock decline related to the leadership shakeup.
The transition occurs during a period of significant financial growth for the chipmaker. NVIDIA’s revenue stood at $4.13 billion in the fiscal year Kress joined the company, compared with $215.9 billion in fiscal 2026. Kress acknowledged the scale of the company’s evolution, noting that a decade ago, few could articulate NVIDIA’s long-term vision. In a statement, Kress said, “NVIDIA’s strength has always come from its people, and together with our leadership team, I am committed to building on the extraordinary foundation Jensen created over the last 33 years.” She added that the company’s focus remains on serving customers, partners, developers, and shareholders while advancing its work in accelerated computing and AI.
NVIDIA operates under an at-will employment arrangement, which allows the company to terminate top executives without owing a pre-negotiated severance payout. Regulatory filings indicate that Kress’ compensation includes restricted stock units, including a March 2026 award scheduled to vest over four years. The board thanked Huang for his contributions to the company and the industry, describing his impact as “profound.” NVIDIA will report its third-quarter fiscal 2027 financial results on Tuesday, November 17, at approximately 1:20 p.m. PT, followed by an earnings call at 2 p.m. PT, as previously scheduled.
