INSUBCONTINENT EXCLUSIVE:
In a press release touting &another record year,& Intel dropped a a bombshell, announcing that CEO Brian Krzanich is resigning, amid
revelations of a &past consensual relationship& with an employee.
&Intel was recently informed that Mr
Krzanich had a past consensual relationship with an Intel employee,& the company notes in the release
&An ongoing investigation by internal and external counsel has confirmed a violation of Intel non-fraternization policy, which applies to
Given the expectation that all employees will respect Intel values and adhere to the company code of conduct, the Board has accepted Mr
Krzanich resignation.&
Krzanich is stepping down from both the chief executive position and the company board of directors half a decade
after being appointed to the role
CFO Robert Swan has been named the company interim CEO in his stead
Swan has been in the CFO role since late-2016, having previous held the position at both eBay and Electronic Data Systems Corp.
Here what he
had to say on the matter, &Intel 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.&
Meantime, Intel is looking in earnest for a more permanent replacement with
both internal and external candidates
&The Board believes strongly in Intel strategy and we are confident in Bob Swan ability to lead the company as we conduct a robust search
for our next CEO,& Intel Chairman Andy Bryant said in the release
&Bob has been instrumental to the development and execution of Intel strategy, and we know the company will continue to smoothly execute
We appreciate Brian many contributions to Intel.&
