Intel boss Brian Krzanich ousted for violating 'fraternisation policy'

Intel boss Brian Krzanich ousted for violating 'fraternisation policy'

Intel removed Brian Krzanich as chief executive officer after the chipmaker learned he had previously had a consensual relationship with an employee, a violation of the company's policies.

"We appreciate Brian's many contributions to Intel", Intel Chairman Andy Bryant said in the release.

Up to and including Krzanich, Intel has appointed leaders from within its own ranks throughout its 50-year history. Chief financial officer Robert Swan will step in as interim CEO, effective immediately.

Intel has confirmed it has begun the search for a permanent chief executive, and is considering candidates both internal and external. But Krzanich's resignation is a prime example that even the CEO of a company can't avoid a non-fraternization policy - at least, not at Intel.

Earlier this month, Guess Inc.co-founder Paul Marciano stepped down following a company investigation into allegations of sexual harassment and assault. Hurd settled with the woman in 2010.

Brian Krzanich, the CEO of Intel, has resigned after it came to light that he was in a relationship with an employee.

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Intel managers are forbidden to have relationships with any employee who reports to them, whether it's directly or indirectly. He made the sale in November as Intel and manufacturers worked to create patches before the problems were publicly exposed.

Intel states that Bob Swan will manage operations in close collaboration with the company's senior leadership team, which likely means the board of directors. Krzanich, who is married, resigned voluntarily, though it is clear that he would have been ousted regardless. Intel had said it was notified about the bugs in June.

According to statistics, the company's stock was also risen to 120 percent during his tenure as CEO.

Krzanich had also been a champion of workplace diversity. With the sales of personal computers falling, Krzanich steered the company towards the server market, which boomed due to adoption of cloud computing. Intel said it was investing $300 million to improve diversity at the company.

An Intel spokesman declined to say whether the walk-away payment applied to Krzanich's resignation, but said the investigation into Krzanich's conduct continued and that the board reserved the right to take further action. By January 2012, he moved to the role of chief operating officer and helped bring Intel's products to China. "It wouldn't surprise me if the ex-CFO, Stacy Smith, gets the nod to be the next CEO". At Intel, Krzanich led the company at a time when it faced great challenges due to the rise of smartphones, and consequently companies like Qualcomm and ARM that make technologies and processors that go inside the phones and tablets.

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