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Nvidia\u2019s Board of Directors announced that Jensen Huang has resigned as President, Chief Executive Officer and a member of the Board. The resignation is \u201ceffective immediately,\u201d per the release<\/a>.<\/p>\n Huang\u2019s resignation follows a bombshell report from The New York Times<\/a> that he was involved in multiple extramarital affairs, including one with Alice Huang, an alleged Chinese spy, and another with Nvidia executive Kimberly Powell.\u00a0<\/p>\n Yahoo! Finance<\/a> reports Huang is believed to have worked with a network of Chinese companies that secured $7.5 billion \u200cworth of chip sales to China. He admitted the affair in a memo to Nvidia employees<\/a>, writing in part, \u201cI was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry.\u201d<\/p>\n Colette Kress, Executive Vice President and Chief Financial Officer of Nvidia, will take on the role of Interim Chief Executive Officer, per the Board of Directors\u2019 announcement.<\/p>\n Nvidia stock <\/a>dropped 10% on the news of Huang stepping down.<\/p>\n<\/p><\/div>\n Nvidia\u2019s Board of Directors announced that Jensen Huang has resigned as President, Chief Executive Officer and a member of the Board. The resignation is \u201ceffective immediately,\u201d per the release<\/a>.<\/p>\n Huang\u2019s resignation follows a bombshell report from The New York Times<\/a> that he was involved in multiple extramarital affairs, including one with Alice Huang, an alleged Chinese spy, and another with Nvidia executive Kimberly Powell.\u00a0<\/p>\n Yahoo! Finance<\/a> reports Huang is believed to have worked with a network of Chinese companies that secured $7.5 billion \u200cworth of chip sales to China. He admitted the affair in a memo to Nvidia employees<\/a>, writing in part, \u201cI was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry.\u201d<\/p>\n Colette Kress, Executive Vice President and Chief Financial Officer of Nvidia, will take on the role of Interim Chief Executive Officer, per the Board of Directors\u2019 announcement.<\/p>\n Nvidia stock <\/a>dropped 10% on the news of Huang stepping down.<\/p>\n<\/p><\/div>\n