Colette Kress, a 1996 graduate of Southern Methodist University’s Cox School of Business, was named interim chief executive officer of Nvidia on Thursday after longtime CEO and co-founder Jensen Huang resigned.
Kress, who has served as Nvidia’s executive vice president and chief financial officer since September 2013, will continue in those roles while the board searches for a permanent successor, according to the company. The Santa Clara, California-based chipmaker’s board accepted Huang’s resignation as president, CEO and board member effective immediately following an internal investigation.
Huang stepped down amid reports of multiple extramarital relationships. He publicly acknowledged being unfaithful to his wife after initial reporting about one relationship. Additional accounts, including from Reuters, described other relationships involving Nvidia employees. Nvidia has not commented on the specific allegations beyond announcing the leadership change.
Kress brings nearly 25 years of finance experience at major technology companies. She previously held roles at Dallas-based Texas Instruments, served as chief financial officer of Microsoft’s Server and Tools division, and later worked as senior vice president and CFO of Cisco’s Business Technology and Operations Finance organization before joining Nvidia. She earned her undergraduate degree in finance from the University of Arizona.
In a statement, SMU Cox School of Business Dean Todd Milbourn noted that Kress completed her Professional MBA while working full time and said the experience demonstrated “focus, determination and an ability to manage complex priorities” that prepared her for the role. The university highlighted her appointment in a press release Thursday.
Nvidia’s stock declined sharply after news of Huang’s departure. The company has been a central player in the artificial intelligence boom through its advanced graphics processing units. Kress has overseen the company’s finances during a period of rapid growth since joining more than a decade ago.
Harvey C. Jones, a longtime Nvidia director, was named the company’s first board chair as part of the transition. The board said it will consider both internal and external candidates for the permanent CEO position and expressed confidence in Kress and the existing leadership team.
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