Nvidia CFO Colette Kress is taking over as interim CEO after co-founder Jensen Huang resigned as president, CEO and board member, effective immediately, the company’s board announced Thursday morning. The change puts a longtime finance executive in charge of a company valued at about $3.8 trillion while Nvidia searches for a permanent successor.
Kress, 59, has worked at Nvidia since September 2013, according to the company’s website. Before joining, she spent three years as senior vice president and CFO of Cisco’s Business Technology Operations Finance organization. She also worked at Microsoft for 13 years, including four as CFO of its Server and Tools division. She holds a finance degree from the University of Arizona and an MBA from Southern Methodist University.
Based in California, Kress has little public social media activity, but she is familiar to investors and analysts from regular appearances on Nvidia earnings calls. Forbes estimates her net worth at about $1.2 billion. The magazine’s profile says she was drawn to Nvidia partly because her two sons endorsed the company for its video game business, then its best-known area.
In a statement, Kress said Nvidia’s strength came from its people and pledged to build on what Huang had established over 33 years. She said the company would continue advancing its work in accelerated computing and AI, and focus on customers, partners, developers and shareholders.
Nvidia’s next quarterly earnings report is scheduled for Tuesday. Kress may offer more detail then about her plans for the company’s immediate future.
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