Intel Corp. CEO Brian Krzanich has resigned from the company after Intel learned about what he describes as a past, consensual relationship with an employee, the company announced Thursday.
“An ongoing investigation by internal and external counsel has confirmed a violation of Intel’s non-fraternization policy, which applies to all managers,” the company said in a statement. “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.”
A violation of the company’s policies, relationships with employees has been under much scrutiny since the start of the #MeToo movement. (RELATED: EXCLUSIVE: Facebook, Amazon, Google And Twitter All Work With Left-Wing SPLC)
Paul Marciano, the Guess Inc. co-founder, stepped down in early June after a company investigation into a sexual harassment and assault allegation, Reuters reported.
COO Robert Swan is taking over as interim CEO immediately while the company searches for a permanent new CEO.
“As Interim CEO, Swan will manage operations in close collaboration with Intel’s senior leadership team. Swan has been Intel’s CFO since October 2016 and leads the global finance, IT, and corporate strategy organizations,” Intel added. “He previously spent nine years as CFO of eBay Inc. Earlier, he was CFO of Electronic Data Systems Corp and TRW Inc. He has also served as CEO of Webvan Group Inc.”
“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,” Intel Chairman Andy Bryant said in the statement.
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