Intel has announced that CEO Brian Krzanich has left the company following an investigation into an “consensual relationship” with an employee.
Effective immediately, Krzanich will be replaced by chief financial officer Robert Swan, who will be an interim CEO.
A statement released by the company said: “An ongoing investigation by internal and external counsel has confirmed a violation of Intel’s non-fraternization policy, which applies to all managers.
“Given the expectation that all employees will respect Intel’s values and adhere to the company’s code of conduct, the Board has accepted Mr. Krzanich’s resignation.”
Krzanich has also left the board. Intel Chairman Andy Bryant said in a statement: “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.
“Bob has been instrumental to the development and execution of Intel’s strategy, and we know the company will continue to smoothly execute. We appreciate Brian’s many contributions to Intel.”
It’s unclear with whom Krzanich had the relationship. People familiar with the situation told CNBC the relationship ended and took place “some time back”.