- General
- June 21, 2018
- 3 minutes read
Intel CEO Brian Krzanich steps down over “consensual relationship” with employee
image credit : Flickr/Web Summit The CEO of Santa Clara based technology corporation and chip manufacturer Intel just been announced to…
image credit : Flickr/Web Summit
The CEO of Santa Clara based technology corporation and chip manufacturer Intel just been announced to be taking a leave from the company amidst the disclosure of a consensual relationship with an employee which violated the company’s non-fraternization policy which restricts certain employees and mostly those at managerial from having certain kinds of relationships with one another.
Intel’s policy doesn’t allow Managers and current employees in the same department from having relationships with individuals who directly or indirectly report to them and in the wake of this issue, The Intel CEO has now stepped down from his position after an on-going investigation from the company’s internal and external counsel.
Brian Krzarnich’s penned resignation has now been accepted by the company’s board of directors with the CEO position now being taken temporarily by the company’s current CFO Robert Swan while Intel searches for a new CEO from various internal and external choices.
Krzanich has been with the company for a long 36 years and this resignation marks the departure of the long key official who recently faced scrutiny over an immediate sale of $39 million worth of shares in the company after the company was informed of the recent ‘Spectre’ security vulnerability on its chips before publicly disclosing it which led to allegations of insider trading, An allegation Intel immediately dismissed stating that the sale wasn’t related to the security report issue.
Krzanich first joined Intel as an engineer in 1982 and was later boosted to the COO position before ascending to the position of Intel’s CEO and is credited for diversifying Intel’s portfolio from its main business operation of chip manufacturing.
Intel would still maintain this expansion and diversification strategy even as Kzarnich is out with the company issuing a statement where it outlined it will continue to smoothly execute the strategy which was set by Brian Krzanich and will continue to work along with it while they continue their business operations.
