Technology

Intel’s CEO resigns after ‘consensual relationship’ with employee

Intel’s CEO Brian Krzanich’s forced to step down following an investigation over a relationship with an employee.

The chip-making company – Intel – announced on 21st June that CEO of the Intel, Brian Krzanich resigns over a “consensual relationship” with a subordinate. CFO Robert Swan will now take the office as Intel’s interim Chief Executive Officer while the company looks for a permanent replacement of his position.

Krzanich remained an Intel executive for over a decade and had held the office as CEO since May 2013. He first joined the company in 1982. Intel has also removed his biography from its website. Intel’s net stock had risen to about 120 percent during Krzanich’s tenure as CEO.

Read Also: Intel plans to launch 28-core CPU late 2018

The company said in a press release:

“An ongoing investigation by internal and external counsel has confirmed a violation of Intel’s non-fraternization policy, which applies to all managers. An ongoing investigation by internal and external counsel has confirmed a violation of Intel’s non-fraternization policy, which applies to all managers.”

The company said Brian’s resignation was accepted immediately to show “that all employees will respect Intel’s values and adhere to the company’s code of conduct.”

The company said that it was recently found that Brian Krzanich had a “past consensual relationship” with an Intel employee. Following an investigation by internal and external sources then confirmed that Mr. Krzanich had violated a non-fraternization policy of the company. Therefore, Intel’s board accepted his resignation after investigating thoroughly. However, the company didn’t tell about the employee involved and the timeline of the relationship.

Sponsored
Aqsa Khunshan

I have done Mphil in Biotechnology from Punjab University, Lahore. I love to write about topics that fascinate me; business, startups, health, technology and, women empowerment. I am a foodie, ambivert, and angry anarchist. I have an instinct to learn new things and explore innovative ideas. You can reach out to me at aqsa.khunshan@techjuice.pk

Share
Published by
Aqsa Khunshan
Tags: CEOchipIntel

Recent Posts

Pakistan’s IT Minister Defends Internet Restrictions: Here’s All We Know!

Shaza Fatima Khawaja, Minister of State for IT and Telecom, made it clear on Thursday…

36 mins ago

PayPal Resolves Global Outage Impacting Thousands

PayPal, the global payment processing company, announced on Friday that it had successfully resolved a…

1 hour ago

7,300 Teaching Interns Hired Across Punjab

LAHORE: Punjab government colleges have completed the recruitment of 7,354 teaching interns. The Higher Education…

2 hours ago

Pakistani Engineers To Get Free AI Training from PEC

The Pakistan Engineering Council (PEC) is launching a free six-week online training program on Generative…

2 hours ago

VPN Ban Could Cost Pakistan’s IT Industry $1 Billion, Warns P@SHA

The Pakistan Software Houses Association (P@SHA) has raised alarms about the severe impact of the…

15 hours ago

WhatsApp Trials Group Chat Mentions in the Latest Status Update Feature

WhatsApp is rolling out a new feature in its latest Android beta version, allowing users…

16 hours ago