It's official: Jensen Huang is no longer the CEO of Nvidia. His personal affairs, including one with potential security risks, have caused the Nvidia board to push him out of the company he helped start.
Stepping into the role as interim CEO is Colette Kress, who previously held the role of executive vice president and chief financial officer of Nvidia. She first joined the company in 2013, so she's no stranger to the massive chipmaker and how it operates.
She seems like a logical choice to run the company as it tries to navigate these tumultuous times. Between the AI boom (and possible bubble burst) and the company's stock dropping like a stone, it won't be an easy road to navigate for Kress.
Colette Kress background
Kress is very much finance-focused. Her most recent role is CFO (chief financial officer) at Nvidia, and she brings 25 years of finance experience at major technology companies.
During that time, she spent 13 years at Microsoft, serving as CFO of the Server and Tools division. She also worked for three years as senior vice president and chief financial officer at Cisco’s Business Technology and Operations Finance organization.
“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, the newly appointed chair of the Nvidia Board of Directors, who has been an entrepreneur, technology executive, and active venture investor for over 30 years, including serving as Chief Executive Officer and Executive Chairman of Synopsys.
As you might expect, Kress has a background in finance and business, holding a B.Sc. in finance from the University of Arizona and an MBA from Southern Methodist University.
“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,” said Colette Kress, interim CEO and CFO, NVIDIA, in Nvidia's release . “We will continue advancing the work that has made NVIDIA a leader in accelerated computing and AI, and execute on the opportunities ahead. Our focus remains on serving our customers, partners, developers and shareholders.”
Interestingly, her title is listed as interim CEO and CFO, so it appears she'll retain her CFO position for some time, perhaps permanently if she doesn't become the permanent CEO.
“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," continued Jones.
There is also an internal memo from Jones making the rounds. In it, he offered Kress high praise: "As CFO for over 13 years, Colette has been a key architect of NVIDIA’s growth and capital strategy. She possesses a deep understanding of this business and the markets in which we operate. The Board has full confidence in Colette to deliver on our commitments to shareholders, customers, partners, and to each of you."
Perhaps most importantly, running her name through a Google search reveals no scandals. She seems to have a completely clean record, which could be exactly what Nvidia needs after the Huang situation.
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