Intel has announced that its chief financial officer Robert Swan is assuming the role of interim CEO because former CEO Brian Krzanich is resigning from his job as chief executive of the company. Krzanich is also leaving the board of directors.
In a statement, the company says the resignation is in response to a recently disclosed “past consensual relationship with an Intel employee.”
Intel has a policy that prevents managers from engaging in such relationships with employees, and the board says it’s “accepted Mr. Krzanich’s resignation,” although CNBC reports that he was “asked to resign.”
An investigation is ongoing.
Meanwhile, Intel snuck a little other news into its press release announcing Krzanich’s departure: the company is raising its financial expectations for the second quarter.
Krzanich has been with Intel since the early 80s, and he was appointed as CEO in 2013. Since then, he has overseen the chip maker at an interesting time, as Intel has faced renewed competition from AMD (in the form of its new Ryzen processors) and from new areas such as Qualcomm and other makers of ARM-based chips (which are now used in Chromebooks, servers, and even some Windows 10 notebooks and tablets).
During that time, Intel has tried to move beyond its roots as a company that makes chips for personal computers and focus on new technologies for cloud computing, IoT, and other hot trends. One of the most intriguing products to come out of Intel in recent years, for example, wasn’t a new processor. It was a new type of persistent storage that blurs the lines between RAM and SSDs.
It’s unclear what, if any, change in direction will accompany a change in leadership. But the decision to appoint an interim CEO rather than a formal replacement for Krzanich suggests the company is making this move in a bit of a hurry.
Intel’s Bio page for Krzanich, by the way, is now empty. But you can take a look at an archived version from last week at the Internet Archive.