Intel CEO Quits After Probe Relationship with Employee
The Chief Executive Officer of Intel Corp, Brian Krzanich has resigned today as he had consensual relationship with an employee. This is violation of company policy, thus he had to resign.
Brian is the latest in a line of powerful men in business and politics to lose their jobs or resign over relationships viewed as inappropriate.
The company stated that in an ongoing investigation by internal and external counsel, it was confirmed that he had consensual relationship with employee. This is a violation of Intel’s non-fraternization policy, which applies to all managers. Krzanich, 58, was appointed Intel CEO in May 2013, and was in charge of moving the company’s focus to growing data centers from personal computers. Intel shares more than doubled during his tenure.
The board of the company has named Robert Swan as interim CEO. He was Chief Financial Officer. However, the company is searching for a permanent CEO that includes both internal and external candidates.
Apart from this information, Intel declined to give any further information about the probe.
Intel shares fell 1.5 percent in early trade.