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NVIDIA announces CEO transition. Read the release:
NVIDIA Founder Jensen Huang Resigns as CEO Amid Scandal
On November 12, NVIDIA announced Huang's immediate resignation as CEO, president, and board member due to the board's focus on operations and security following details of his affairs—one with a businesswoman suspected by U.S. intelligence as a Chinese asset and another with a senior executive under him. CFO Colette Kress steps in as interim CEO while retaining her finance role, and longtime director Harvey C. Jones becomes the first board chair as they seek a permanent successor. Shares plunged, erasing massive market value, though some defend Huang's legacy in building NVIDIA into a tech powerhouse, with the board stressing steady product plans ahead.