Intel chief executive officer Brian Krzanich has resigned from his position effective immediately.
The news came by way of an official press release from Intel which explained that Krzanich had had a consensual relationship with an employee.
That doesn’t sound like that big of a deal but Intel has a “non-fraternization” policy which Krzanich violated.
Intel’s chief financial officer Robert Swan will assume the role of interim chief executive officer.
“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,” Intel chairman Andy Bryant said in the press release.
Krzanich joined Intel as an engineer in 1982 and has served as the firm’s CEO since 2013.
As for his interim successor, Swan will be managing operations in close collaboration with the senior management team at the firm.
“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,” said Swan.
Intel together with an executive search firm is currently searching for Krzanich’s replacement.[Image – CC BY 2.0 TechCrunch]