Nvidia shares fell 13.09% to USD 150.99 on Thursday, November 12, after Jensen Huang resigned as chief executive, sending a shock through US markets before Wall Street trading. Nasdaq futures led the declines, falling 1.16%, as investors faced an immediate leadership change at the chipmaker.
Huang also stepped down as president and a director, with all three departures taking effect immediately, ANI reported. Nvidia named its executive vice president and chief financial officer, Colette Kress, as interim CEO and began looking for a permanent replacement. Originally reported by Devdiscourse.
Nasdaq futures lead US market declines
Nasdaq futures stood at 25,171.43, down 1.16%, while S&P 500 futures lost 0.69% to 7,566.86. Dow Jones futures were almost unchanged by comparison, slipping 0.02% to 52,477.28.
The figures reflected positioning ahead of the regular Wall Street session rather than closing market results. Nvidia's much steeper share-price decline put the company's leadership transition at the centre of the premarket sell-off, with the Nasdaq showing the largest percentage fall among the three futures benchmarks.
Kress takes charge as board seeks successor
Nvidia outlined the changes in a statement dated November 12. Kress will retain her CFO responsibilities while serving as interim chief executive, and the board's search for a permanent CEO will consider candidates from both inside and outside the company.
Kress has been Nvidia's CFO since September 2013, following earlier finance positions at Cisco and Microsoft. She said the company would keep advancing its accelerated computing and AI work while pursuing opportunities ahead.
The board also named Harvey C. Jones as its first chair. Jones expressed confidence in Kress and the management team, saying operations, commitments to customers and the product roadmap were expected to proceed without disruption.
The immediate handover places Kress at the helm ahead of Nvidia's next scheduled financial update: its third-quarter fiscal 2027 results, due on November 17.
Originally reported by Devdiscourse.