Colette Kress, Nvidia's long-time chief financial officer, has stepped in as interim CEO following Jensen Huang's abrupt resignation. Kress, a 13-year company veteran, is widely respected within Nvidia and has been a key figure in its financial operations. Analysts describe her as more than just a CFO, with one calling her a "Swiss Army knife" for her strategic involvement across customers, partners, and technology.
Kress's leadership comes at a critical time for Nvidia, which is facing a stock slump and broader concerns about the AI industry. The company's shares dropped 14% on Thursday, marking a sixth straight weekly decline, the longest since 2012. Huang's exit follows reports of personal misconduct, including affairs that drew scrutiny from U.S. intelligence.
While Kress is expected to serve as interim CEO for about a year, analysts suggest the permanent replacement will likely come from outside the company. "You need someone that's been on the global stage," said Dan Ives of Yorkville Ives & Co., emphasizing Nvidia's importance in both the U.S. and global economy.
Kress, recognized as one of Fortune's most powerful women in business, has pledged to continue Nvidia's legacy in AI and accelerated computing. The company is set to report quarterly results on Tuesday, adding another layer of pressure to her new role.