Intel has confirmed today that the company’s CEO Brian Krzanich has resigned effective immediately. The move comes after an ongoing investigation by internal and external counsel which confirmed that Krzanich violated Intel’s non-fraternization policy which applies to all managers.
“Intel was recently informed that Mr. Krzanich had a past consensual relationship with an Intel employee,” the company said in its statement, adding that his violation of the policy has been confirmed following an investigation by internal and external counsel.
His immediate resignation is meant to show that “all employees will respect Intel’s values and adhere to the company’s code of conduct,” Intel adds. Intel CFO Robert Swan has been given the additional charge of interim CEO.
As the interim CEO, Swam will be managing operations in close collaboration with Intel’s senior leadership team. As the company embarks on the search for a permanent CEO, it will retain a leading executive search firm to assist in the process.
The company says that it already has a “robust succession planning process in place” and that it has started a search for a permanent CEO. It will be looking at both internal and external candidates for the job.
Krzanich had been with Intel for decades, he first joined Intel back in 1982 and was appointed the company’s CEO in May 2013. His biography has been removed this morning from Intel’s website.