Nvidia announced on Thursday that its co-founder and chief executive Jensen Huang has resigned from his roles as president, CEO, and board member, effective immediately.

The company's board named Chief Financial Officer Colette Kress as interim CEO. She will continue in her CFO role while the board searches for a permanent successor, considering both internal and external candidates. The board also appointed Harvey C. Jones, a longtime director and former Synopsys CEO, as its first-ever chair.

The move follows days of turmoil after reports detailed Huang's alleged extramarital affairs, including one with a businesswoman whom U.S. authorities suspect of ties to Chinese intelligence. Huang, 63, had publicly apologized on Sunday for being unfaithful to his wife. Additional reports emerged of a separate relationship with a senior Nvidia executive who reported to him.

Nvidia shares fell more than 10 percent in premarket trading following the announcement, extending recent declines that have erased hundreds of billions in market value. The company, which Huang built since its founding in 1993 into a leader in accelerated computing, faces uncertainty at a critical time for its technology in global markets.

Company statements emphasized continuity, with Kress noting the team's commitment to serving customers and advancing prior initiatives. Jones highlighted her deep knowledge of the business during a period of significant growth.

The resignation underscores the serious risks to U.S. technological leadership when personal conduct intersects with foreign influence concerns, especially given the large number of foreign-born or foreign country-affiliated workers in the US tech industry.