Jensen Huang has resigned from his role as CEO of Nvidia, the company’s board of directors announced on Thursday. The resignation is effective immediately.

Colette Kress, who is currently Nvidia’s EVP and CFO, has agreed to serve as Interim Chief Executive Officer.

Shares of Nvidia Corporation (Nasdaq: NVDA) are once again sinking in premarket trading this morning after reports yesterday that the company’s board has convened to discuss whether to oust its embattled cofounder and CEO, Jensen Huang.

As of this writing, NVDA shares are down more than 7% in premarket trading, mainly due to uncertainty over Huang’s fate.

But several Wall Street analysts worry that Nvidia’s lack of a known succession plan could weigh on the stock’s price for a long time. Here’s what you need to know.

This week started out bad for Nvidia, and yesterday things got worse.

On Sunday, CEO Jensen Huang admitted to an extramarital affair with a woman whom U.S. intelligence officials believe could be a Chinese spy. That raised severe national security concerns and led to a steep sell-off in NVDA stock.

However, at the time, Nvidia’s board released a statement saying it still had “confidence in Jensen and his leadership team.”

In other words: it was a scandal, but the board backed its CEO (and said it had no reason to believe its secrets or national security were compromised).

That’s when The Wall Street Journal revealed that Nvidia’s board was meeting to determine whether to oust Huang . What changed? News broke of an alleged second affair that Huang had had, this time with a subordinate who works at Nvidia.

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