Who is Colette Kress? Nvidia CFO becomes interim CEO after Jensen Huang resigns
Who is Colette Kress? Nvidia's finance chief steps in as interim CEO after Huang exit
Nvidia CFO Colette Kress is temporarily running the world's most valuable chip company after Jensen Huang's sudden resignation; Nvidia has not yet announced a succession plan, saying the board is considering internal and external candidates. Kress joined Nvidia in September 2013, previously worked in finance at Cisco, Microsoft and Texas Instruments, and has long appeared alongside Jensen Huang on earnings calls. The turmoil began on Sunday when Jensen Huang publicly apologized for being unfaithful to his wife, after reports that he had an affair with Chinese businesswoman Alice Huang, whom U.S. intelligence suspected of being a spy, and on Wednesday evening The New York Times reported a second extramarital affair, with employee Kimberly Powell. After the news was announced, Nvidia shares fell 14% on Thursday and were on track for a sixth consecutive weekly decline this week, the longest losing streak since 2012. Analyst Dan Ives believes Kress may serve on an interim basis for about a year, with the permanent choice coming from outside the company; Nvidia is scheduled to report quarterly results on Tuesday.
The report interviewed several insiders and examines why this CFO, who has been in the role for thirteen years, could temporarily take over Nvidia, and can serve as background for understanding this personnel change.