From The Federal
Owned by New Generation Media Corporation Pvt. Ltd.Nvidia CEO Jensen Huang resigns, Colette Kress named interim chief executive
What's behind this
Nvidia Corp. announced on Thursday that long‑time co‑founder Jensen Huang has stepped down as president, chief executive officer and board member with immediate effect. The resignation follows mounting scrutiny over a reported affair with a Chinese businesswoman whom U.S. authorities suspect of Beijing ties, raising national‑security concerns. Huang, 63, ended a 33‑year association with the company. Chief financial officer Colette Kress, who has served in Nvidia’s finance leadership for over a decade, was named interim chief executive. Nvidia shares fell more than 13 % in pre‑market trading, contributing to an estimated $800 billion loss for the week.
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Huang faced growing calls to resign after his affair with a Chinese businesswoman who reportedly was also acting as a spy for Beijing