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.
"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.
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