Intel CEO Brian Krzanich Resigns Suddenly Over Employee Relationship

Brian Krzanich, Intel’s CEO, has resigned from the company after the company learned about a “consensual relationship” he had with an employee.

The 58 year old leader went against the company’s non-fraternization policy according to Intel. Managers are prohibited from having relationships with people who report to them either indirectly or directly.

In his place, CFO Robert Swan will be interim CEO effective immediately, as the company searches for a new permanent CEO.

The company stated, “An ongoing investigation by internal and external counsel has confirmed a violation of Intel’s non-fraternization policy, which applies to all 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.”

According to people who are familiar with the situation, Krzanich had dated the employee “some time back” and the relationship had ended years ago.

“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.”

Disclaimer: We have no position in Intel Corporation (NASDAQ: INTC) and have not been compensated for this article.