Intel CEO Resigns after Probe of Consensual Relationship with Employee
Brian Krzanich is stepping down as Intel’s chief executive due to a “past consensual relationship” with one of the company’s employees.
According to Intel, an ongoing investigation by internal and external counsel confirmed that Krzanich’s relationship violated the company’s non-fraternization policy, which applies to all managers.
Krzanich, who was named chief executive in 2013 after serving as chief operating officer, will also resign as a member of Intel’s board of directors.
Chief financial officer Robert Swan will step in as interim chief executive officer of Intel while the company searches for someone to permanently take on the role.
As interim chief executive, Swan will manage operations in close collaboration with Intel’s senior leadership team. Swan has been Intel’s chief financial officer since 2016 and leads the global finance, IT and corporate strategy organizations.
“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 in a statement.