New York: Nvidia co-founder and longtime chief executive Jensen Huang stepped down on Thursday (November 12, 2026), following reports of two extramarital affairs — one involving an Nvidia executive who reported to him, and another involving a woman alleged by U.S. officials to be a Chinese spy . While Mr. Huang apologised for being unfaithful and Nvidia investigates whether he was targeted by foreign intelligence, the chipmaker’s shares tumbled sharply.
In a bid to steady the company, Nvidia’s finance chief, Colette Kress, has assumed the role of interim CEO, the company announced . She will lead the chipmaker whose processors power the world’s most advanced supercomputers and AI data centres, while the board searches for a permanent successor .
A 13-Year Nvidia Veteran
Ms. Kress is far from an outsider to the company. She joined Nvidia in September 2013 as executive vice president and chief financial officer and has held the post since . She has appeared alongside Mr. Huang on the company’s quarterly earnings calls.
Prior to joining Nvidia, Ms. Kress worked at Cisco, Microsoft and Texas Instruments, building nearly 25 years of experience in technology finance . She spent eight years in finance roles at Texas Instruments before moving to Microsoft in 1997, where she worked until 2010 and became CFO of its Server and Tools division. She then moved to Cisco as senior vice president and CFO of its Business Technology and Operations Finance organisation .
She holds a bachelor’s degree in finance from the University of Arizona and an MBA from Southern Methodist University .
Transformative Tenure
Nvidia’s revenue stood at $4.13 billion** in the fiscal year she joined and reached **$215.9 billion in fiscal 2026 — a period that saw the company’s transformation from graphics processors into the defining hardware supplier of the artificial intelligence boom.
Net Worth and Compensation
Nvidia’s stock rise over the past decade made Ms. Kress one of the wealthiest executives in the world. Forbes ranked her No. 32 on its 2026 list of America’s richest self-made women, estimating her net worth at $1.2 billion as of June 2026 .
At the stock’s October peak, her Nvidia holdings pushed her personal net worth past $1 billion, though the recent market slide reduced her company shares to roughly **$750 million** . She holds more than 4 million Nvidia shares — the second-largest stake among the company’s executives, behind Huang .
Her total compensation reached $16 million in fiscal 2026, including restricted stock units . Executive officers at Nvidia are employed at will and have no individual employment, severance or change-in-control agreements, according to the company’s proxy statement.
What Lies Ahead
In a statement, Ms. Kress said Nvidia’s “strength has always come from its people” and that she would build on the “extraordinary foundation Jensen created over the last 33 years” .
She will retain her existing responsibilities as CFO while serving as interim CEO until a permanent successor is named. The board has said it will consider both internal and external candidates .
Market watchers believe the board may still look externally for a permanent successor to lead the AI linchpin forward. Analysts have been cautiously positive about her interim appointment. Gil Luria of D.A. Davidson told Reuters: “Colette Kress is well respected by investors and should be able to guide Nvidia through this challenging period. The task is daunting, as Nvidia has been founder-led since inception” .
