NVIDIA's co-founder, chief executive officer, and president has officially signed a letter of resignation, stepping down from the role he has held since 1993. Following a series of controversies, NVIDIA announced on Sunday that the company's board of directors is launching a full-scale independent investigation into recent reports of founder and CEO Jensen Huang having a relationship with a woman the U.S. intelligence community believes is an agent of the Chinese state. Another allegation has since emerged, claiming that Jensen had an inappropriate relationship with one of his direct reports. As a result, Jensen Huang has resigned from all his positions, including President, Chief Executive Officer, and member of the Board, effective immediately.

The company board has begun the search for a new CEO and, in the meantime, has named Colette Kress, currently serving as vice president and chief financial officer, as the interim CEO. According to the official statement, NVIDIA's board is looking for a permanent CEO and is open to considering both internal and external candidates for the position. Who exactly will take on the role is unknown, as the board must find a suitable successor. During the transition, CFO Colette Kress will continue to perform CEO duties and manage the company.Additionally, NVIDIA's board has appointed Harvey C. Jones as its first-ever chairman, bringing more changes to the executive structure. Jones brings more than three decades of experience as an entrepreneur, technology executive, and venture investor, having previously served as CEO and executive chairman of Synopsys. The company's earnings schedule remains unchanged, with third-quarter fiscal 2027 results due on Tuesday, November 17, at approximately 1:20 p.m. PT, followed by an earnings call at 2 p.m. PT. During the earnings call, we will likely gain more insights, as analysts are expected to follow up with extensive questioning.