Intel Corporation CEO Brian Krzanich on Thursday submitted his resignation after he was found guilty of violating company’s policies. Krzanich had to end his 36-year-old marriage with the American chipmaker for having a love affair in the office. Although he had a consensual relationship with one of his colleague, it was still a violation of company policy. Chief Financial Officer Robert Swan has replaced the outgoing Krzanich as the interim CEO of Intel.
After Brian Krzanich’s relationship surfaced to light, Intel took immediate cognizance of the matter and issued a public statement on his removal.
The semiconductor manufacturing company stated that when they were informed about Krzanich’s consensual relationship with an Intel employee in the past, an ongoing investigation by internal and external counsel confirmed a violation of Intel’s non-fraternization policy.
The company further said in the statement that all the employees are expected to respect Intel’s values and adhere to the company’s code of conduct.
Since Krzanich violated the code of conduct, the company Board accepted his resignation which comes into effect immediately.
While instating Robert Swan as the interim CEO, Intel Chairman Andy Bryant said, “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.”
Bryant, however, paid his respects to the departing CEO’s contributions and appreciated Brian’s “many contributions” to Intel.
Intel statement on the resignation of CEO Brian Krzanich: pic.twitter.com/Ajm5xV7c0w
— Jon Erlichman (@JonErlichman) June 21, 2018
Brian Krzanich joined Intel in 1982 as an engineer and gained promotion as the chief operating officer in 2012. He served as the COO of the company for over a year until he was instated as the CEO.