Nvidia Shares Drop 11% Premarket as CFO Colette Kress Takes Interim CEO Role

Nvidia shares fell 11% in premarket trading Thursday, putting the chipmaker’s stock move alongside an immediate change in its top executive role.

Jensen Huang is stepping down immediately, while Chief Financial Officer Colette Kress is taking over as interim CEO. Kress moves from the finance chief role into the chief executive position on a temporary basis, as indicated by the interim title.

The two developments put Nvidia’s share performance and executive succession in focus Thursday. Huang’s departure is described as effective immediately, and Kress’s interim role is likewise presented as taking effect now. The stock move was an 11% decline for NVDA shares in premarket trading.