Co-founder Jensen Huang has resigned from Nvidia after reports of a second extra-marital affair broke.
He will leave his position as president, chief executive and a member of the board with immediate effect.
Colette Kress, the company’s executive vice president and chief financial officer, has agreed to serve as interim chief executive.
Nvidia and Jensen Huang are being sued by shareholders after the company’s valuation fell earlier this week. The complaint, filed in federal court in California, claims that Nvidia and Jensen Huang misled shareholders in connection with his alleged affair with Alice Huang – no relation – a former executive at Megaspeed.
Jensen Huang told Nvidia’s employees he had been unfaithful to his wife, but the parties did not disclose any details around the alleged relationship – specifically that it raised national security concerns that threatened Nvidia’s reputation and business prospects.
The legal action comes after US President Donald Trump said the FBI was investigating Jensen Huang’s affair, with reports suggesting Alice Huang is a spy for the Chinese state.
The New York Times then reported that Jensen Huang had also had an affair with Kimberly Powell, Nvidia’s vice president for healthcare.
Nvidia’s board is starting a search for a permanent chief executive and will consider internal and external candidates.
Kress has been executive vice president and CFO since joining Nvidia in September 2013.
Before joining, she spent nearly 25 years in finance roles at technology companies including Cisco and Microsoft.
The board has also appointed Harvey C. Jones as its first-ever chair.
Nvidia said Jones has been an entrepreneur, technology executive and venture investor for over 30 years, including as chief executive and executive chairman of Synopsys.
Jones said: “Colette has helped lead NVIDIA through a period of extraordinary growth and has a deep understanding of our business, customers, operations and financial position.
“The board has full confidence in Colette and the leadership team, and we expect the company’s operations, customer commitments and product roadmap to continue without interruption.”
Kress added:: “Nvidia’s strength has always come from its people, and together with our leadership team, I am committed to building on the extraordinary foundation Jensen created over the last 33 years.
“Our focus remains on serving our customers, partners, developers and shareholders.”