India, Nov. 12 -- Nvidia CEO Jensen Huang has stepped down from his position amid an escalating controversy surrounding an alleged China-linked espionage scandal and reports of an extramarital affair with a subordinate.

Chief Financial Officer Colette Kress will take over as interim CEO, the company announced on Thursday.

"The Board is initiating a search for a permanent Chief Executive Officer and will consider internal and external candidates," the statement read.

The announcement comes as pressure mounted on the 63-year-old billionaire, who co-founded Nvidia and is among its largest shareholders. Reports of an alleged second affair involving a subordinate who reportedly worked directly under him added to the controversy.

How the Ch...