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Intel CEO Resigns After Employee Relationship RevealedIntel CEO Resigns After Employee Relationship Revealed

Intel's CFO, Bob Swain, will take on the interim CEO role.

Dan Jones

June 21, 2018

1 Min Read
Intel CEO Resigns After Employee Relationship Revealed

Intel's CEO, Brian Krzanich, has abruptly resigned over a relationship with an employee, the chipmaker said Thursday.

"Intel was recently informed that Mr. Krzanich had a past consensual relationship with an Intel employee," Intel Corp. (Nasdaq: INTC). said in a statement. "An ongoing investigation by internal and external counsel has confirmed a violation of Intel's non-fraternization policy, which applies to all managers."

The chipmaker's board has named CFO, Bob Swain, as interim CEO, effective immediately.

A longtime Intel employee, Krzanich became CEO in 2013. In recent years, he had developed a strategy to focus on the Internet of Things, 5G and the cloud, trying to move the processor maker beyond its PC roots. (See Intel to Lay Off 12%, Focus on IoT & Data Centers and Intel Kills Off Its Smartphone Chip Lines.)

Nonethless, Krzanich had spent a good deal of time putting out fires around Intel's PC and server chips in 2018, because of the global impact of the Spectre and Meltdown flaws, major security vulnerabilities discovered in its CPUs at the beginning of the year. (See Intel Shrugs Off Spectre Worries in Q4 and Intel: We've Patched Most Chips for 'Spectre' & 'Meltdown'.)

Intel investors are not happy about the surprise. Shares are down $0.82 (1.34%) to $52.67 this morning on the news.

— Dan Jones, Mobile Editor, Light Reading

About the Author(s)

Dan Jones

Mobile Editor

Dan is to hats what Will.I.Am is to ridiculous eyewear. Fedora, trilby, tam-o-shanter -- all have graced the Jones pate during his career as the go-to purveyor of mobile essentials.

But hey, Dan is so much more than 4G maps and state-of-the-art headgear. Before joining the Light Reading team in 2002 he was an award-winning cult hit on Broadway (with four 'Toni' awards, two 'Emma' gongs and a 'Brian' to his name) with his one-man show, "Dan Sings the Show Tunes."

His perfectly crafted blogs, falling under the "Jonestown" banner, have been compared to the works of Chekhov. But only by Dan.

He lives in Brooklyn with cats.

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