Jensen Huang resigns from Nvidia after reports of two affairs, one with an alleged Chinese spy.
Nvidias board accepted his resignation at a late night meeting on Wednesday. Huang is stepping down as CEO, president and board member, effective immediately, 33 years after he founded the company.
CFO Colette Kress becomes interim CEO and keeps her finance job. Nvidia is also getting its first ever board chairman, former Synopsis CEO Harvey Jones. The company statement cites both. No word from Huang.
A few days ago he admitted to having an affair with an executive at a cloud company in Singapore, whom US intelligence believes is a spy for China. On Wednesday, the New York Times reported a second one, with an Nvidia vice president reporting to him.
Nvidias stock plunged more than 13% in the open, CNBC reports. Among the names that have emerged as his successor include AMDs CEO Lisa Su, a relative of the Huangs.