Nvidia names Harvey Jones first-ever chair as Huang exits

Nvidia appointed Harvey C. Jones, 73, as the first chair in its history on Thursday, November 12. The appointment came in the same announcement in which Jensen Huang resigned as president, chief executive and board member, effective immediately, according to the company's release. Chief Financial Officer Colette Kress will serve as interim CEO and keep her CFO role while the board looks for a permanent successor. The search will consider both internal and external candidates.investor.nvidia.com

Jones now leads the board through a messy transition. Huang stepped down days after admitting an affair with a woman U.S. officials suspect of spying for China, and after reports of a second relationship with a subordinate, AFP reported. NBC News called the new chair position a major governance overhaul at a company that relied on Huang alone for decades.afp.com+1

Jones's message to staff

In an internal email published by The Verge, Jones told employees that the board had asked Kress to step in "while it conducts a search for a permanent successor" and wrote, "I will serve as the first-ever Chair of the Board." He called Huang's contributions "profound" and said "the Board takes seriously our duty as stewards of this great company." The letter did not address why Huang left, Semafor noted.theverge.com+1

In the public statement, Jones said "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," CNBC reported. Nvidia still plans to report fiscal third-quarter results on November 17. Kress told staff the company will hold an all-hands meeting on November 18.cnbc.com

Three decades in the boardroom

Jones joined Nvidia's board in 1993, the year the company was founded and years before its IPO. He sits on the audit committee and the nominating and corporate governance committee, according to Reuters. He co-founded Daisy Systems in 1981 and ran it until 1987, when he became CEO of Synopsys. He took Synopsys public in 1992 and later became its executive chairman. In 1997 he co-founded Tensilica, which he chaired until Cadence Design Systems bought it in 2013. He has been managing partner of Square Wave Ventures since 2004.reuters.com

Jones rarely gives interviews. In a 2009 interview with the Computer History Museum, he said Nvidia's founders "were, in fact, the core engineers that were our first customer at Synopsys," Business Insider reported. He described his early board service by saying "at first it was a hobby." Nvidia's 2026 proxy statement lists him as an independent director who beneficially owned about 7 million shares.businessinsider.com

Pressure on the board

The board had come under criticism for having no outside chair and no clear succession plan. Former SEC chairman Gary Gensler told CNN the board was "not a good picture of corporate governance." Wharton professor Michael Useem was more blunt in comments to Fortune: "This is the board's moment to shine or fade."fortune.com+1