Nvidia Corp. named Colette Kress as the company's chief financial officer. This was after the CFO post of the computer-graphics processor maker went vacant. Kress formerly worked as an executive for Cisco Systems Inc. She would take the vacant post of former Nvidia finance chief David White who stepped down in March 2011.
The 46 year old executive served Cisco's Business Technology and Operations Finance division for three years as vice president and chief financial officer. Her employment experience also included working with Microsoft Corp. for 13 years as the computer maker's chief finance officer for Server and Tools business. This was according to statement released by Nvidia today.
Kress would receive a salary of USD500,000 a year including a signing bonus of USD1.5 million. She would also get a one-year anniversary bonus valued USD1 million. Kress would also be eligible for annual inceptive pay targeted at USD550,000. This was according to a separate company filing. Kress would also be granted 220,000 restricted stock units in the company.
Nvidia Corp's shares increased less than 1% to USD15.81 at the trading close in New York today. This left the stock up by 29% this year.
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