Colette Kress, Nvidia's interim chief executive, said she will hold an all-hands meeting on the 18th. The aim is to share the company's future direction with employees. It is the first message since founder Jensen Huang stepped down as both CEO and director.
Harvey Jones, chair of Nvidia's board, sent an internal email to employees on the 12th (local time). In it, he announced Huang's resignation. The board is reviewing internal and external candidates. In the meantime, it has asked Kress, the chief financial officer (CFO), to serve as interim CEO.
The board structure has also changed. Jones, a veteran Silicon Valley executive, became the first chair of Nvidia's board. Until now, Nvidia's board had no chair. CEO Huang had led the board together with a lead independent director.
Chair Jones expressed confidence in interim CEO Kress. He described her as a "key figure" who has served as CFO for more than 13 years and shaped the company's growth and capital strategy. Of founder Huang, he said, "Jensen's contributions to Nvidia are immense."
Interim CEO Kress also issued a separate message. She said she "deeply believes" in the company and its future. She added that both the board and management know this has been a very difficult time. She thanked employees for their resilience, professionalism and dedication.
With the founder who led the company for 33 years suddenly stepping aside, concerns have emerged about organizational unrest and a leadership vacuum. The latest message is seen as an effort to quell them.
The all-hands meeting will be held at 9 a.m. U.S. Pacific Standard Time on the 18th, which is 2 a.m. on the 19th in Korea. Interim CEO Kress said management will lay out its future plans in concrete terms within a few days. She said Nvidia is responsible for building the "technology leading the AI revolution" and urged everyone to move forward together.