Intel has announced that CEO Brian Krzanich has resigned from the company on Thursday after an investigation by internal and external counsel confirmed that he had a past consensual relationship with an Intel employee. He has also left the board.
The CEO of the largest chipmaker is the latest addition in the names of the men in business and politics who have been asked to resign or have lost their jobs over having inappropriate relationships in the light of the #MeToo social media movement.
According to Reuters, the relationship began in 2013 before Krazanich became CEO and was ended several years later. The company was only informed about the matter a week ago leading to a probe.
Brain Krzanich violated a company’s non-fraternization policy that states that managers cannot have relationships with people who report to them either directly or indirectly, said Intel in a press release.
We have to wait and see how this change in leadership will affect the company which is expanding beyond the realm of personal computers and servers and into areas like artificial intelligence and self-driving cars where smaller competitors like Nvidia Corp have a strong holding.
The board has named Chief Financial Officer Robert Swan interim chief executive officer, effective immediately. Intel’s share has fallen by 2.4%