Nvidia announced on November 12 that Jensen Huang would step down as president, CEO, and board member effective immediately. CFO Colette Kress will serve as interim CEO while continuing as CFO. The board has begun its search for a new CEO, considering both internal and external candidates. Former Synopsys CEO Harvey C. Jones will become the board’s first chairman.

The interim leadership team is only managing the transition; the identity of Huang’s successor will have a greater impact on the company’s valuation.

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