> ## Content Index > Fetch the complete content index at: https://www.blackexecutivebrief.com/llms.txt > Use this file to discover other available public pages before exploring further. # Nvidia Names CFO Colette Kress Interim CEO After Jensen Huang Resigns Effective Immediately - URL: https://www.blackexecutivebrief.com/nvidia-names-cfo-colette-kress-interim-ceo-after-jensen-huang-resigns-effective-immediately/ - Published: 2026-11-13T05:48:21.000Z - Updated: 2026-11-13T05:52:04.000Z - Description: Nvidia's board said Jensen Huang resigned as CEO and director, naming CFO Colette Kress interim CEO and Harvey Jones as first chair ahead of Nov 17 results. The Black Executive Journal — Daily Edition - Author: BEB Editors - Tags: The Pulse BEJ Intelligence · Companies in this story BEJ Intelligence [MCB Group](https://desk.blackexecutivebrief.com/company/mcb-group?ref=blackexecutivebrief.com) Bank · Port Louis, Mauritius **0**SEC filings, 90 days**2**news items, 30 days #### In the news - [Mauritius Banking Group Lifts Profit 9.9%](https://www.riotimesonline.com/mcb-group-first-quarter-profit-rises-9-9-percent/?ref=blackexecutivebrief.com)The Rio Times · Nov 12, 2026 - [MCB Group : Rs 5,4 milliards de bénéfices au premier trimestre 2026/27](https://defimedia.info/mcb-group-rs-54-milliards-de-benefices-au-premier-trimestre-202627?ref=blackexecutivebrief.com)Defimedia · Nov 12, 2026 - [MCB Group’s foreign income drives profit to Rs20.1bn as Africa expansion deepens](https://businessday.ng/companies/article/mcb-groups-foreign-income-drives-profit-to-rs20-1bn-as-africa-expansion-deepens/?ref=blackexecutivebrief.com)BusinessDay · Oct 1, 2026 [Full profile on Diaspora Desk Daily →](https://desk.blackexecutivebrief.com/company/mcb-group?ref=blackexecutivebrief.com)Live data · SEC EDGAR, FINRA and approved outlets ## KEY TAKEAWAYS - **Jensen Huang resigned** as President, CEO and board member of NVIDIA **effective immediately**, after 33 years leading the company he co-founded ([NVIDIA — Nov 12, 2026](https://investor.nvidia.com/news/press-release-details/2026/NVIDIA-Announces-CEO-Transition/default.aspx?ref=blackexecutivebrief.com)). - **Colette Kress**, CFO since September 2013, becomes **Interim CEO while keeping the CFO role**. The board will consider internal and external candidates for the permanent job ([NVIDIA — Nov 12, 2026](https://investor.nvidia.com/news/press-release-details/2026/NVIDIA-Announces-CEO-Transition/default.aspx?ref=blackexecutivebrief.com)). - NVIDIA named **Harvey C. Jones**, former CEO and Executive Chairman of Synopsys, as its **first-ever Chair of the Board**. Third-quarter fiscal 2027 results stay on schedule for **Tuesday, November 17** ([NVIDIA — Nov 12, 2026](https://investor.nvidia.com/news/press-release-details/2026/NVIDIA-Announces-CEO-Transition/default.aspx?ref=blackexecutivebrief.com)). - **Standard Bank** Corporate and Investment Banking will access **Kinexys by J.P. Morgan's Blockchain Deposit Account network**, a platform with **$4 trillion** in cumulative transactions and **$7 billion** in average daily volume ([Standard Bank — Nov 12, 2026](https://novuspressbulletin.co.za/blog/standard-bank-integrates-kinexys-by-j.p.-morgan-to-advance-next-generation-payment-capabilities?ref=blackexecutivebrief.com)). - [**MCB Group**](https://desk.blackexecutivebrief.com/company/mcb-group?ref=blackexecutivebrief.com) lifted first-quarter FY2026/27 profit attributable to ordinary shareholders **9.9% to Rs 5,422 million**, with net interest income **up 17.4%** ([MCB Group — Nov 12, 2026](https://mcbgroup.com/news/article/profits-of-rs-5.4-billion-for-first-quarter-of-fy-2026-27?ref=blackexecutivebrief.com)). - MCB's **impairment charges rose 33.7% to Rs 809 million** and its **cost-to-income ratio climbed to 36.4%** from 35.9%, while the gross NPL ratio improved to **1.8%** ([MCB Group — Nov 12, 2026](https://mcbgroup.com/news/article/profits-of-rs-5.4-billion-for-first-quarter-of-fy-2026-27?ref=blackexecutivebrief.com)). --- --- ## UNITED STATES — Nvidia Board Accepts Jensen Huang Resignation And Appoints Colette Kress Interim CEO NVIDIA's board announced on Thursday that **Jensen Huang has resigned as President, Chief Executive Officer and a member of the Board, effective immediately** ([NVIDIA — Nov 12, 2026](https://investor.nvidia.com/news/press-release-details/2026/NVIDIA-Announces-CEO-Transition/default.aspx?ref=blackexecutivebrief.com)). The company's release states no reason for the resignation. It thanks Huang for "immeasurable contributions" and credits him with the foundation built "over the last 33 years." **Colette Kress**, Executive Vice President and Chief Financial Officer, has agreed to serve as **Interim CEO** and will keep the CFO title until a permanent successor is named. She joined NVIDIA in **September 2013** and spent nearly **25 years** in finance roles at Cisco and Microsoft before that. The board is opening a search that will weigh **internal and external candidates** ([NVIDIA — Nov 12, 2026](https://investor.nvidia.com/news/press-release-details/2026/NVIDIA-Announces-CEO-Transition/default.aspx?ref=blackexecutivebrief.com)). The second governance change matters as much as the first. The board appointed **Harvey C. Jones as NVIDIA's first-ever Chair of the Board**. Jones is a technology executive and venture investor of more than 30 years who previously served as CEO and Executive Chairman of Synopsys. Creating a standalone chair separates board leadership from management at the moment a founder-CEO exits, which is the structure institutional investors usually push for after a sudden departure. "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," Jones said. Kress said her focus "remains on serving our customers, partners, developers and shareholders" ([NVIDIA — Nov 12, 2026](https://investor.nvidia.com/news/press-release-details/2026/NVIDIA-Announces-CEO-Transition/default.aspx?ref=blackexecutivebrief.com)). The calendar is unchanged. NVIDIA will report **third-quarter fiscal 2027 results on Tuesday, November 17, at about 1:20 p.m. PT**, with the earnings call at 2 p.m. PT. That gives the interim CEO five days before her first public test in the role. Investors will want guidance, data-centre demand commentary and any update on the succession timeline. ### Why It Matters NVIDIA sits at the centre of the global AI capital-spending cycle. Its chips set the pace for data-centre builds from Northern Virginia to Lagos, Nairobi and Johannesburg. A leadership change at this scale touches every operator downstream: cloud and colocation developers raising capital for African capacity, pension funds and diaspora investors holding index exposure, and procurement teams negotiating multi-year GPU allocations. A CFO-turned-interim-CEO signals continuity on supply commitments and financial discipline. The new independent chair signals the board intends to own the succession process. Executives with AI infrastructure projects in their pipeline should watch the November 17 call for any change to customer commitments and for the profile of the permanent CEO search. --- --- ## SOUTH AFRICA — Standard Bank Integrates Kinexys By J.P. Morgan Blockchain Deposit Network Standard Bank Corporate and Investment Banking has entered a **strategic collaboration with Kinexys by J.P. Morgan**, the bank said from Johannesburg on November 12 ([Standard Bank — Nov 12, 2026](https://novuspressbulletin.co.za/blog/standard-bank-integrates-kinexys-by-j.p.-morgan-to-advance-next-generation-payment-capabilities?ref=blackexecutivebrief.com)). The arrangement gives Standard Bank access to Kinexys' **Blockchain Deposit Account network** for faster, programmable payment flows for clients operating across Africa and beyond. Scale is the selling point. The Kinexys platform has processed **more than $4 trillion in cumulative transactions** since inception and averages **$7 billion in daily transaction volume** ([Standard Bank — Nov 12, 2026](https://novuspressbulletin.co.za/blog/standard-bank-integrates-kinexys-by-j.p.-morgan-to-advance-next-generation-payment-capabilities?ref=blackexecutivebrief.com)). Standard Bank describes itself as the **largest African bank by assets**, and its corporate and investment bank operates in **21 African countries**. The first-phase capabilities are treasury-facing: real-time payments, **24/7 money movement**, and stronger liquidity management and transactional services. The release also points to the next step: opportunities to **pilot blockchain-based near real-time cross-border and intra-group settlement**. The bank did not name the currencies or corridors those pilots will cover. "The ability to move funds quickly, securely, and efficiently across markets is becoming more important than ever," said **Richard de Roos, Group Payments Head of Standard Bank**. He described the deal as "part of a broader journey" into emerging payment solutions. **Akshika Gupta**, Global Head of Product Sales and Solutions at Kinexys, said the milestone shows how blockchain rails can unlock round-the-clock money movement for global organisations ([Standard Bank — Nov 12, 2026](https://novuspressbulletin.co.za/blog/standard-bank-integrates-kinexys-by-j.p.-morgan-to-advance-next-generation-payment-capabilities?ref=blackexecutivebrief.com)). ### Why It Matters Intra-group settlement is where African multinationals lose the most time and money. A Johannesburg parent funding a Lagos or Nairobi subsidiary still often waits on correspondent banks, cut-off times and weekend closures. Tokenised deposit rails that run all day, every day attack that friction directly. Corporate treasurers now face three practical questions: which Standard Bank markets join the pilot first, whether settlement covers local currencies or only dollars, and how pricing compares with existing correspondent routes. African fintechs and payment startups now face a higher bar. The continent's largest bank is now plugging into one of the world's biggest institutional blockchain payment networks rather than waiting for domestic alternatives. --- --- ## MAURITIUS — MCB Group Reports 9.9 Percent Rise In First-Quarter Profit To Rs 5.4 Billion MCB Group opened financial year 2026/27 with **profit attributable to ordinary shareholders up 9.9% to Rs 5,422 million** for the quarter to September 30 ([MCB Group — Nov 12, 2026](https://mcbgroup.com/news/article/profits-of-rs-5.4-billion-for-first-quarter-of-fy-2026-27?ref=blackexecutivebrief.com)). The group called it a solid start "in an increasingly challenging and uncertain operating environment." Growth came from the balance sheet. **Operating income rose 11.7%**, with the Home Markets business up **8.0%** and Corporate and Investment Banking and Private Banking up **15.1%**. **Net interest income grew 17.4%** as interest-earning assets expanded, even though the overall net interest margin fell. Rupee margins improved as liquid assets were reinvested at higher yields. Foreign-currency margins declined, which MCB attributed to competitive pressure, the lower USD benchmark rate and a funding mix tilted toward term deposits and borrowings ([MCB Group — Nov 12, 2026](https://mcbgroup.com/news/article/profits-of-rs-5.4-billion-for-first-quarter-of-fy-2026-27?ref=blackexecutivebrief.com)). Non-interest revenue was mixed. Net fee and commission income rose only **3.8%**, as gains in trade finance and wealth management were partly offset by **non-recurring losses related to card activities**. Net trading income rose **7.2% to Rs 1,877 million** on FX and fixed-income activity. Other operating income fell **10.1% to Rs 277 million** against a prior-year quarter that included one-off gains on financial instruments. Costs and credit provisions grew faster than income. **Non-interest expenses rose 13.5%** on staff, professional fees and technology spending tied to the group's Vision 2030 plan, pushing the **cost-to-income ratio to 36.4%** from 35.9%. **Impairment charges jumped 33.7% to Rs 809 million**, reflecting expected credit losses on rapid loan growth, for an annualised cost of risk of **50 basis points**. Asset quality held up, with the **gross NPL ratio improving to 1.8%**. Return on equity eased to **16.0%** from 16.5%, and the effective tax rate was **26.5%** ([MCB Group — Nov 12, 2026](https://mcbgroup.com/news/article/profits-of-rs-5.4-billion-for-first-quarter-of-fy-2026-27?ref=blackexecutivebrief.com)). ### Why It Matters MCB is the Indian Ocean's bellwether lender and a major financier of African corporates through its Corporate and Investment Banking arm. The **15.1% income growth** in that business shows Mauritius' role as a booking and structuring hub for continental deals is expanding. The squeeze on foreign-currency margins as the USD benchmark rate falls is a signal for every African bank that funds dollar lending. The **33.7% jump in impairments** alongside fast loan growth is worth watching: provisioning is rising ahead of defaults, and borrowers seeking dollar facilities through Port Louis should expect lenders to price that risk. --- ## SOURCES - [NVIDIA — NVIDIA Announces CEO Transition — Nov 12, 2026](https://investor.nvidia.com/news/press-release-details/2026/NVIDIA-Announces-CEO-Transition/default.aspx?ref=blackexecutivebrief.com) - [Standard Bank — Standard Bank integrates Kinexys by J.P. Morgan to advance next-generation payment capabilities — Nov 12, 2026](https://novuspressbulletin.co.za/blog/standard-bank-integrates-kinexys-by-j.p.-morgan-to-advance-next-generation-payment-capabilities?ref=blackexecutivebrief.com) - [MCB Group — Profits of Rs 5.4 billion for first quarter of FY 2026/27 — Nov 12, 2026](https://mcbgroup.com/news/article/profits-of-rs-5.4-billion-for-first-quarter-of-fy-2026-27?ref=blackexecutivebrief.com) *Disclaimer: This report is for informational purposes only and does not constitute financial advice. Consult a licensed advisor before making investment decisions.*