Intel’s CEO Brian Krzanich Resigns After Relationship with Employee, Board Assigns Robert Swan as Interim CEO
Mr. Krzanich, 58, was appointed chief executive and elected to board in May 2013. Before that he served as executive vice president and the chief operating officer
Intel Corporation today announced the resignation of Brian Krzanich as CEO and a member of the board of directors. He resigned over a past consensual relationship with an Intel employee. Intel said Mr. Krzanich has violated a non-fraternisation policy that applies to all managers. The board has named CFO Robert Swan as interim CEO.
Krzanich violated policy that said he could not have a relationship with a direct report, people familiar with the situation told CNBC. The relationship ended and took place ‘some time back’, the people said. It’s unclear with whom Krzanich had the relationship. The company was only recently made aware of the relationship, at which point they began probing and Krzanich was asked to resign,
Mr. Krzanich, 58, was appointed chief executive and elected to board in May 2013. Before that he served as executive vice president and the chief operating officer. He joined Intel in 1982. In 2017, Krzanich’s total compensation topped 21 million dollars, including money for company-provided transportation and residential security.
(The above story first appeared on LatestLY on Jun 21, 2018 07:18 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).