Jensen Huang has resigned as president, CEO, and a member of the board of NVIDIA, effective immediately; and Colette Kress, executive vice-president and CFO of NVIDIA, has agreed to serve as interim CEO.

In a statement on Thursday, Nvidia said the board is searching for a permanent CEO and will consider both internal and external candidates. She will keep her role as CFO while she is interim CEO, until a permanent successor is named.

NVIDIA, a global leader in AI and accelerated computing, did not provide other details, such as a timetable for the search. The board also thanked Huang for his immeasurable contributions to the company and the industry.

Kress has been with NVIDIA since September 2013 and she has led the company’s finance organization and played a key role in its growth. Before joining NVIDIA, she spent nearly 25 years in finance roles at technology companies including Cisco and Microsoft.

The board has also appointed Harvey C. Jones as its first-ever Chair of the Board. Jones has been an entrepreneur, technology executive, and active venture investor for more than 30 years. He was CEO and executive chairman of Synopsys.

Jones emphasized Kress has helped lead NVIDIA through a period of extraordinary growth and understands the company’s business, customers, operations, and financial position. The board has full confidence in her and the leadership team, and expects operations, customer commitments, and the product roadmap to continue without interruption.

Kress said NVIDIA’s strength has always come from its people and she is committed to building on the foundation Huang created over the past 33 years. She said the company will keep advancing its work in accelerated computing and AI and will focus on customers, partners, developers, and shareholders.

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