Jensen Huang is out: Read the internal memos

• Nvidia's new leaders addressed employees after former CEO Jensen Huang's resignation.
• Nvidia's board is considering internal and external CEO candidates.
• The chip giant plans a November 18 all-hands meeting amid the leadership shake-up.

Nvidia's new leaders sought to reassure employees Thursday following Jensen Huang's abrupt departure from the company he cofounded more than three decades ago.

Interim CEO Colette Kress and newly appointed board chair Harvey Jones addressed the leadership shake-up and laid out the company's next steps, according to internal memos obtained by Business Insider.

Kress said leadership would host a company meeting on November 18 about Nvidia's future, while Jones said the company's board was searching for a permanent successor and considering both internal and external candidates.

Read both memos in full below:

Colette Kress:

Dear NVIDIANs,I believe deeply in this company and in its future. More than anything, I believe in each of you, in our customers and partners and in the vital role we play every day in the global economy.The Board, Estaff and I recognize that this has been an extraordinarily difficult period and I want you to know how grateful we are for your resilience, professionalism and continued dedication. Thank you.This company has achieved so much because of the work that all of you bring to it every single day. You are our greatest strength. You will hear more from leadership in the coming days about our future together, and we will host a company meeting on November 18 at 9am PT.We play a vital role in building the technology that is powering the AI revolution, and we have important work ahead of us. So let's move forward together, with the same determination and commitment that have always defined this company.Thank you for all you do,Colette

Harvey Jones:

Dear NVIDIA Employees,I am writing to share an important update. Jensen has resigned as CEO and Board Member, and the Board has asked our Chief Financial Officer Colette Kress to serve as interim CEO while it conducts a search for a permanent successor looking at both internal and external candidates. I will serve as the first-ever Chair of the Board.As CFO for over 13 years, Colette has been a key architect of NVIDIA's growth and capital strategy. She possesses a deep understanding of this business and the markets in which we operate. The Board has full confidence in Colette to deliver on our commitments to shareholders, customers, partners, and to each of you.Jensen's contributions to NVIDIA are profound. NVIDIA is one of the most consequential technology companies in the world. We pioneered accelerated computing, defined the modern GPU, and built the platform that powered artificial intelligence.The Board takes seriously our duty as stewards of this great company.The strength of this company resides in our employees, leadership team, technical strength and partner ecosystem. I am confident that under Colette's leadership, with the full support of the Board, we will continue to grow our business, and lead the industry forward. Thank you for your focus, your professionalism, and your commitment to NVIDIA.Harvey JonesChair, NVIDIA Board of Directors

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