Brian Krzanich is no longer the CEO of Intel, the media reported this Thursday (opens in new tab). As it turns out, he was romantically involved with an employee sometime in the past, which is against the company code of conduct.
“Intel was recently informed that Mr. Krzanich had a past consensual relationship with an Intel employee,” the company said in a press release. “An ongoing investigation by internal and external counsel has confirmed a violation of Intel’s non-fraternization policy, which applies to all managers.”
Intel decided to accept the now former CEO's resignation, to show that “all employees will respect Intel’s values and adhere to the company’s code of conduct.”
Following the resignation, Intel removed Krzanich’s biography from the company website and started looking for a replacement. Both current employees, as well as outside candidates, will be evaluated, it was said.
In the meantime, the company’s CFO Robert Swan will take over as interim CEO.
“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,” Intel chairman Andy Bryant said. “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.”
Image Credit: Michael Moore