Nvidia has appointed director Harvey Jones as the first chair of its board, the company announced, hours after co-founder Jensen Huang resigned as president, CEO and board member. The move installs a 32-year board veteran with a 0.03 percent equity stake as the company's top oversight figure, while CFO Colette Kress takes over as interim chief executive.

Jones, a billionaire technology executive with an estimated net worth of $1.7 billion according to Forbes, has sat on Nvidia's board since the company's founding in 1993. His appointment was announced simultaneously with Huang's departure and Kress's elevation from executive vice president and CFO to interim CEO.

What does the new chairman role change?

The creation of a standalone chairmanship separates oversight of the board from day-to-day management of the company. Under Huang, all three levers — the presidency, the chief executive office and the board seat — rested with one person. Jones now holds the governance function; Kress holds operations, at least on an interim basis.

Jones moved quickly to project continuity. "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," he said in the company's release.

The stake math underlines the scale of the transition. Jones's 0.03 percent holding represents a personal fortune of roughly $1.7 billion by Forbes's estimate, a figure that reflects Nvidia's market capitalization as much as his own position. Huang, by contrast, co-founded the company in 1993 and concentrated authority across its executive and governance ranks for more than three decades.

Who is Harvey Jones?

Jones brings a four-decade career in technology to the chairmanship. According to the press release, he has worked for more than 30 years as an entrepreneur, technology executive and active venture investor.

His most prominent operating role came at Synopsys, the electronic design automation company (a vendor of software used to design chips). Jones served as Synopsys's CEO for seven years beginning in 1987, then shifted to executive chairman of the same firm.

His Nvidia tenure predates nearly everything else on his résumé in duration. He joined the board at the company's founding in 1993, Forbes confirms, making him one of the longest-serving directors in the technology sector.

What happens next at Nvidia?

Three immediate facts define the company's posture:

• Interim leadership: Colette Kress, previously executive vice president and CFO, runs the company as interim CEO while the board searches for a permanent successor.
• Product continuity: Jones has publicly committed, in the company's release, to an uninterrupted product roadmap and to honoring existing customer commitments.
• Governance split: The chair and CEO roles are now held by two different people for the first time in the company's history.

Jones's statement frames the board's position in a single line: confidence in Kress, confidence in the leadership team, and no planned deviation from Nvidia's operational course. The company did not indicate a timeline for appointing a permanent chief executive, and no further personnel changes were announced alongside the two appointments.

For investors, the numbers to watch are straightforward. A chairman with a 0.03 percent stake, an interim CEO promoted from the finance function, and a founder's simultaneous exit from three positions — the combination marks the most significant leadership rupture in Nvidia's 32-year corporate history.