Jensen Huang has resigned as CEO of Nvidia, the company he co-founded in 1993. An interim boss has been appointed by Nvidia’s board of directors.

Colette Kress, Executive Vice President and Chief Financial Officer, is appointed Interim CEO, Nvidia said. Harvey C. Jones was appointed its first-ever Chair of the Board.

In a statement, Nvidia's Board of Directors confirmed that Huang had resigned as President, Chief Executive Officer, and a member of the Board, effective immediately. Kress will continue to serve as Executive Vice President and Chief Financial Officer while serving as Interim CEO until a permanent successor has been named. The Board said the search was on for a permanent CEO and "will consider internal and external candidates."

Kress joined Nvidia in September 2013 and has been its Executive Vice President and Chief Financial Officer since then. She leads the gargantuan company's finance organization. Before Nvidia, Kress spent nearly 25 years in finance roles at technology companies including Cisco and Microsoft.

“Colette has helped lead Nvidia through a period of extraordinary growth and has a deep understanding of our business, customers, operations and financial position,” said Harvey Jones, Chair of the Nvidia Board of Directors. “She is supported by an experienced leadership team that has been instrumental in executing NVIDIA’s strategy and advancing its technology roadmap. The Board has full confidence in Colette and the leadership team, and we expect the company’s operations, customer commitments and product roadmap to continue without interruption.”

“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,” Kress commented.

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