Intel chief executive Brian Krzanich has resigned over a « past consensual relationship » with an employee that violated a company non-fraternization policy, the technology company announced Thursday.
Intel chief executive Brian Krzanich has resigned over a « past consensual relationship » with an employee that violated a company non-fraternization policy, the technology company announced Thursday.
Chief Financial Officer Bob Swan will serve as interim chief executive while the company searches for a replacement.
A leader in data storage, Intel said it has « a robust succession planning process in place » and was looking at both internally and externally for candidates. The company has also retained an executive search firm to help locate candidates.
« 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, » said Intel Chairman Andy Bryant .
The company, which has been transitioning to cloud computing-oriented businesses amid a decline in personal computing, projected second-quarter revenue of about $16.9 billion and earnings of 99 cents per share. Both were well above analyst expectations.
« Intel’s transformation to a data-centric company is well under way and our team is producing great products, excellent growth and outstanding financial results, » Swan said. « I look forward to Intel continuing to win in the marketplace. »
Intel’s revenues in 2017 were $62.8 billion and it had 102,700 employees at the end of the year.
A Dow member, Intel rose 2.2 percent to $54.64 in pre-market trading.
