Jensen Huang Resignation Live Updates: Nvidia Shares Crash 13%

Jensen Huang Resignation Live Updates: For 33 years, one name has been tied to Nvidia more closely than any other. That changed on Thursday as the company's Board of Directors announced that Jensen Huang has resigned as President, Chief Executive Officer and a member of the Board, effective immediately.

Pressure has been mounting on Huang after reports said the 63-year-old, who is married, admitted that he had an affair with a Chinese businesswoman who US authorities suspect of spying for Beijing.

Colette Kress, Nvidia's Executive Vice President and Chief Financial Officer, will serve as Interim Chief Executive Officer. She will keep her role as Chief Financial Officer while she leads the company, and she will stay in both posts until a permanent successor has been named.

The Board has started a search for a permanent Chief Executive Officer. It said it will consider both internal and external candidates, which leaves the door open to someone from inside the company or from outside it.

Huang is a co-founder of Nvidia, which was founded in 1993, and has led the company for 33 years. The company's announcement did not give a reason for his resignation. Media reports said the move followed several days of speculation about his future and came amid press reports about allegations concerning his personal conduct. Those allegations have not been proven.

The company has also named Harvey C. Jones as the first-ever chair of its Board, and it has said it will report its third-quarter results on November 17.

Follow The Live Updates On Nvidia CEO Jensen Huang's Resignation: