For more than a decade, Colette Kress helped steer Nvidia’s quiet transformation from a niche gaming chipmaker into the undisputed engine of the global AI boom. Yet her elevation to the corner office arrives not as a victory lap, but as damage control.
Following co-founder and CEO Jensen Huang’s resignation amid mounting allegations of extramarital affairs, Kress steps into the interim CEO role under the shadow of a well-documented corporate bias: the “glass cliff.”
Kress's appointment raises questions about whether women are more likely to be handed top leadership positions when organisations are navigating a crisis, rather than during periods of stability and growth. And this is precisely what the glass cliff phenomenon seeks to explain.
What is the glass cliff phenomenon?
The term ‘glass cliff’ refers to the tendency to appoint women to senior leadership positions during periods of crisis, organisational turmoil or financial decline.
The term was coined by researchers at the University of Exeter in the United Kingdom, who studied companies listed on the Financial Times Stock Exchange (FTSE) 100 Index. Their research found that women were more likely to be appointed to leadership positions when companies were performing poorly.
The phenomenon is not restricted to corporate boardrooms. It has also been observed in politics, finance, technology and academia, where women are sometimes entrusted with leadership when institutions are struggling to overcome internal or external challenges.
There are several possible explanations for this pattern. A company in decline may view a leadership position as particularly risky because the incoming chief executive is likely to inherit existing problems, face intense scrutiny and have limited time to deliver results. Appointing a woman under such circumstances can also allow an organisation to shift responsibility for its troubles if the turnaround fails.
According to Martin Lanik, chief executive officer of Pinsight and author, organisations may be reluctant to risk losing employees they consider their most valuable or high-potential talent during difficult periods. Instead, women and racial minorities, who are often perceived as more dispensable, may be more likely to be placed in such precarious positions.
Such appointments can also serve as a public demonstration of an organisation's commitment to diversity. If the woman succeeds, the company benefits from the turnaround and can claim credit for making the right appointment. If she fails, however, the organisation can replace her while retaining the appearance of having embraced progressive leadership practices.
The metaphor of the glass cliff is that women in this position are at risk of falling off a cliff and failing.
Despite the risks, a glass cliff position can be difficult to turn down because leadership roles are so infrequently offered to women.
When have such glass cliff appointments taken place?
Several high-profile appointments over the years have illustrated the glass cliff phenomenon.
Marissa Mayer at Yahoo! (2012)
In July 2012, former Google executive Marissa Mayer was appointed president and chief executive officer of Yahoo! At 37, she became one of the youngest women to lead a major technology company.
However, she inherited a company struggling to compete with Google and Facebook, with declining user engagement and advertising revenue. Yahoo! was also dealing with internal turmoil and a series of leadership controversies.
Marissa's predecessor, Scott Thompson, had stepped down in May 2012 after just four months in the role, following revelations that his resumé contained inaccurate academic qualifications. His departure triggered shareholder backlash, a board reshuffle and the resignation of chairman Roy Bostock. Thompson had replaced Carol Bartz, who was dismissed in 2011 after a turbulent tenure marked by disagreements with the board.
Jane Fraser at Citigroup (2021)
When Jane Fraser became chief executive of Citigroup in March 2021, she made history as the first woman to lead a major Wall Street bank. However, she inherited an institution facing operational challenges and concerns over its market performance.
Mary Barra at General Motors (2014)
Mary Barra became chief executive of General Motors in 2014, just as the automobile manufacturer was grappling with a major ignition-switch recall scandal.
Carly Fiorina at Hewlett-Packard (1999)
Carly Fiorina took over as chief executive of Hewlett-Packard in 1999, when the technology company was facing significant business challenges. Her tenure was marked by the controversial merger with Compaq in 2002, criticism over the company's performance and mounting disagreements with the board. She was eventually forced out in 2005.
Ellen Pao at Reddit (2014)
Ellen Pao became Reddit's interim chief executive in late 2014, at a time when the social media platform was facing growing user dissatisfaction. She resigned in July 2015 following widespread protests over the dismissal of a popular employee.
Jill Soltau at Joann (2020)
Jill Soltau took over as chief executive of fabric and crafts retailer Joann in 2020, with the responsibility of steering the struggling business through a challenging period. Despite efforts to turn the company around, Joann filed for bankruptcy in 2024.
Who is Colette Kress and what lies ahead for her?
Whoever eventually takes over from Nvidia co-founder and chief executive Jensen Huang will wield considerable influence in the rapidly expanding artificial intelligence industry. Nvidia is a critical supplier of advanced chips used to train AI models and power major technology companies, including OpenAI, Anthropic and Google. With a market capitalisation of approximately $4 trillion, it is also among the world's most valuable companies.
Colette Kress, 59, joined Nvidia in 2013 as its chief financial officer, having previously held finance positions at Texas Instruments, Microsoft and Cisco. Kress, who also serves as Nvidia's executive vice-president, has overseen Nvidia go from a niche firm geared towards video game chips to a trillion-dollar AI juggernaut.
Kress is a familiar face to investors, regularly joining Huang on quarterly earnings calls and helping communicate the company's financial performance. Those who have worked with her describe her as a calmer counterpoint to Huang's often confrontational leadership style, Reuters reported.
However, taking over the role permanently could present a different challenge. Given Nvidia's reputation as a technology-driven company, its board may ultimately favour an engineering leader to succeed Huang.
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