Thursday, June 21st 2018
Intel CEO Brian Krzanich Resigns - For Having Sex With Colleague
Intel Corporation today announced the resignation of Brian Krzanich as CEO and a member of the board of directors. The board has named Chief Financial Officer Robert Swan interim chief executive officer, effective immediately.
Intel was recently informed that Mr. Krzanich had a past consensual relationship with an Intel employee. 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.
"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," said Intel Chairman Andy Bryant.
Intel expects to deliver a record second quarter, with revenues of approximately $16.9 billion and non-GAAP EPS of approximately $0.99. With accelerating data-centric revenue, the company is off to an excellent start in the first half of the year and expects 2018 to be another record year. Intel will provide full second-quarter results and an updated outlook for the full year on the second-quarter earnings call on July 26.
As interim CEO, Swan will manage operations in close collaboration with Intel's senior leadership team. Swan has been Intel's CFO since October 2016 and leads the global finance, IT and corporate strategy organizations. He previously spent nine years as CFO of eBay Inc. Earlier, he was CFO of Electronic Data Systems Corp. and TRW Inc. He has also served as CEO of Webvan Group Inc.
Swan added, "Intel's transformation to a data-centric company is well under way and our team is producing great products, excellent growth and outstanding financial results. I look forward to Intel continuing to win in the marketplace."
The board has a robust succession planning process in place and has begun a search for a permanent CEO, including both internal and external candidates. The board will retain a leading executive search firm to assist in the process.
Intel was recently informed that Mr. Krzanich had a past consensual relationship with an Intel employee. 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.
Intel expects to deliver a record second quarter, with revenues of approximately $16.9 billion and non-GAAP EPS of approximately $0.99. With accelerating data-centric revenue, the company is off to an excellent start in the first half of the year and expects 2018 to be another record year. Intel will provide full second-quarter results and an updated outlook for the full year on the second-quarter earnings call on July 26.
As interim CEO, Swan will manage operations in close collaboration with Intel's senior leadership team. Swan has been Intel's CFO since October 2016 and leads the global finance, IT and corporate strategy organizations. He previously spent nine years as CFO of eBay Inc. Earlier, he was CFO of Electronic Data Systems Corp. and TRW Inc. He has also served as CEO of Webvan Group Inc.
Swan added, "Intel's transformation to a data-centric company is well under way and our team is producing great products, excellent growth and outstanding financial results. I look forward to Intel continuing to win in the marketplace."
The board has a robust succession planning process in place and has begun a search for a permanent CEO, including both internal and external candidates. The board will retain a leading executive search firm to assist in the process.
123 Comments on Intel CEO Brian Krzanich Resigns - For Having Sex With Colleague
And you guys wanna blame it on the dog.....
Meltdown/Spectre, supposed problems with 10nm, AMD's resurgence and what I would call lackluster Intel response (that silly marketing slide was amazing xD) and the supposed insider trading before Spectre news got out.
And I wonder with whom he did have relations? Direct underling? Direct boss (assuming before he became CEO)? Those cases yeah, position of authority and all that. Other cases it's not and it shouldn't be anyones deal. In my company couples are a thing. Then again, I am in Europe, not USA, work laws are very, very different.
It's not outside the realm of possibility that Intel or Krzanich could decide to sue TPU for providing a platform and not discouraging and environment that allows people to defame him. I bet then we'd see rather fewer clickbait headlines and a lot more good behaviour, so I'm actually kinda hoping it happens.
1) Burnt 300$ million on "diversity efforts"
2) Aimed at extremely realistic "40% of engineers are female" (good luck at that, whatever he was smoking)
3) Meltdown, Spectre
4) Ryzen, Threadripper
5) Threadripper 2 and widespread mocking of Intel's response
fired for consensual sex with someone working at Intel, sure thing.Would you like a cookie for this?
A small monument perhaps? Or rather big one?
Should we PM you telling how great you are?
Fucking unbelievable how pathetic people can get.
There would be so many webs you couldn’t move even half of those who might be affected or cry favoritism if fraternization was allowed. The higher ranked person’s impartiality and professionalism also become called into question by the rank and file members. He thoughts he was above his own company’s rules. He found out different.
You don’t have relationships where you work.
FOX NEWS IS NOTHING EVEN CLOSE TO TABLOID, IT IS THE MOST TRUTHFUL NEWS IN THE USA AS OF DATE!
From what I've experienced with folks that are in the boardroom..... If they want someone "Gone" all they have to do is dig around for some dirt. I'd be willing to place my money everytime if a CEO gets investigated, something would be found they could be fired over according to corporate policy.
I'm thinking in this case it was desired to see him leave in a way that wouldn't shake the stocks so much yet still serve the same purpose - And behind closed doors he's been blamed for all the setbacks Intel has had in recent times.
I've been witness to such shenanegans before with how the blame game is played at the corporate level.... And it's about the highest level of game play you'll ever see like this aside from politics itself.
Just plain nasty.
The first rule of management still applies:
"Everything is your fault".
[Mr. Sivakumar]
But OK, let's jstu say that we need MROE stuff, because we aren't happy with what we got now... that sounds more like your personal perspective leaking through. :rolleyes: