Intel CEO Brian Krzanich to step down after 'workplace fling'

CFO Robert Swan will take the helm while the board seeks another leader

Intel has announced the resignation of its CEO, Brian Krzanich, after the executive was put under investigation for a "violation of Intel's non-fraternisation policy".

The chipmaker found that Krzanich had a "past consensual relationship" with a company employee, which goes against its rules for managers.

"Given the expectation that all employees will respect Intel's values and adhere to the company's code of conduct, the board has accepted Mr Krzanich's resignation," said a spokesperson for the tech giant.

Intel has appointed chief financial officer Robert Swan as interim chief executive officer, with immediate effect.

Advertisement
Advertisement - Article continues below

"The board believes strongly in Intel's strategy and we are confident in Bob Swan's ability to lead the company as we conduct a robust search for our next CEO. Bob has been instrumental to the development and execution of Intel's strategy, and we know the company will continue to smoothly execute. We appreciate Brian's many contributions to Intel," said Intel chairman Andy Bryant.

Intel conducted both internal and external investigations into Krzanich's relationship with an unnamed colleague, saying both investigations are ongoing, and noting only that the relationship happened some time ago. The company's policy applies to situations where Krzanich was the employee's direct boss or an indirect line manager.

The computing giant added that it believes the appointment of Swan as interim CEO will offer Intel the opportunity it needs to continue momentum in its data division. It expects to post record second quarter revenue figures of $16.9 billion when it releases its financial results at the end of July.

"Intel's transformation to a data-centric company is well under way and our team is producing great products, excellent growth and outstanding financial results. I look forward to Intel continuing to win in the marketplace," Swan said.

Featured Resources

The IT Pro guide to Windows 10 migration

Everything you need to know for a successful transition

Download now

Managing security risk and compliance in a challenging landscape

How key technology partners grow with your organisation

Download now

Software-defined storage for dummies

Control storage costs, eliminate storage bottlenecks and solve storage management challenges

Download now

6 best practices for escaping ransomware

A complete guide to tackling ransomware attacks

Download now
Advertisement

Most Popular

Visit/cloud/microsoft-azure/354230/microsoft-not-amazon-is-going-to-win-the-cloud-wars
Microsoft Azure

Microsoft, not Amazon, is going to win the cloud wars

30 Nov 2019
Visit/business/business-strategy/354252/huawei-takes-the-us-trade-sanctions-into-its-own-hands
Business strategy

Huawei takes the US trade sanctions into its own hands

3 Dec 2019
Visit/hardware/354237/five-signs-that-its-time-to-retire-it-kit
Sponsored

Five signs that it’s time to retire IT kit

29 Nov 2019
Visit/mobile/mobile-phones/354273/pablo-escobars-brother-launches-budget-foldable-phone
Mobile Phones

Pablo Escobar's brother launches budget foldable phone

4 Dec 2019