Intel CEO Brian Krzanich Resigns - For Having Sex With Colleague

[W1zzard]

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.

View at TechPowerUp Main Site

 

[Raevenlord]

Holy...

Hmmm. Great idea to go out in a way that (unfortunately) attracts more attention (and detracts attention from) security holes and potentially incriminating share sales with some insider trading thrown in the mix.

 

[R0H1T]

I thought the board would've booted him out a while back, for underperforming

But I guess this is what it takes, except for a certain someone who's always in the news for all the wrong reasons

 

[dj-electric]

Dat title, cmon bro, w1zz... While technically might be correct, forms a very negative connotation about the situation.
Having romantic relationships of any kind are a violation in the company. It doesn't have to be sexual

 

[_JP_]

Seriously?
Of all the things...

Having romantic relationships of any kind are a violation in the company. It doesn't have to be sexually

Isn't it until 3rd base is reached that usually a "relationship" is assumed as fact nowadays?

 

[dj-electric]

Seriously?
Of all the things...

Isn't it until 3rd base is reached that usually a "relationship" is assumed as fact nowadays?

In all seriousness - it could be just dating and flirting. That falls right there in violation.
W1zz chose tabloid-grade title for this one. A little bit savage.

 

[dorsetknob]

Couple of comments come to mind

"You can Screw the Competition But not your own Company"
Insider Trading " No i wore a Condom"

(Sorry im light headed and dizzy low blood pressure)

 

[ironcerealbox]

Relationship? Yes.

Sex with a fellow employee? I don't see that anywhere in the story.

Have to agree with dj here. The headlines are there for the clickies.

 

[kastriot]

You can't change human nature with different rules and laws simple as that.

 

[Vya Domus]

With each time that I hear any piece of news about Intel it gets more and more ridiculous.

 

[Konceptz]

Dat title, cmon bro, w1zz... While technically might be correct, forms a very negative connotation about the situation.
Having romantic relationships of any kind are a violation in the company. It doesn't have to be sexual

Not every Company. You'd be surprised how many marriages and families start out in the workplace. You spend 40+ hours a week with someone, sooner or later an attraction will develop. As someone else said, you can't stop human nature with a company policy.

 

[ssdpro]

Another example of society correcting by over-correcting. The behavior police are basically over-correcting to leaving almost no way to meet people. If work, that is power abuse (because the underling must be naive and weak). Bars... nope that means alcohol might be involved and thus no consent. Online? No, that might mean misrepresentation and corporate involvement. The park? No way you creep don't wander the park trying to determine what mate is married or caring for a child. I attached the old fashioned way. Sized up my college roommate's girlfriend, subtly advertised how more advanced I was, waited, wasted his time frolfing and playing video games so he wouldn't study and flunked out of school. Bingo... kicked his butt out and his ex-girlfiend in. Happily married 15 years. All ethical and on the up and up.

 

[dj-electric]

Not every Company. You'd be surprised how many marriages and families start out in the workplace. You spend 40+ hours a week with someone, sooner or later an attraction will develop. As someone else said, you can't stop human nature with a company policy.

My comment was not about having or not having sex with a co-worker. Its about having the minimum press decency to have a fair title to this kind of news. The information in the title is not provided in the PR what-so-ever. Yet, it was mentioned. This is not fair journalism, no matter how much the editor loves or hates intel's products or market behavior

 

[Slizzo]

No real overcorrection here @ssdpro . He was forced to resign because he violated a company policy (managers are not allowed to fraternize [have relationships] with anyone that is subordinate to them). It was noted that the relationship was consensual, so nothing morally wrong happened here.

 

[W1zzard]

In all seriousness - it could be just dating and flirting. That falls right there in violation.
W1zz chose tabloid-grade title for this one. A little bit savage.

If you were a CEO with a multi-million dollar salary, I'm sure you would restrict yourself to dating and flirting

 

[Darmok N Jalad]

I agree with others that say the headline is a bit extreme—at the least it’s off target, but I guess that’s a sign of the times. We don’t know the details of the relationship—all we know is that the relationship was a violation of the company policy. Being the CEO, it would probably be a significant conflict of interest to have a romantic relationship with any employee. I know I wouldn’t want to be the direct supervisor of the CEOs girlfriend, no matter how much assurance there was that there would be no retaliation for possible disciplinary action for that employee.

 

[dorsetknob]

The information in the title is not provided in the PR what-so-ever. Yet, it was mentioned. This is not fair journalism.

Its Fox News/ the Sun News Style and since when has Jounalism been Fair

Intel was recently informed that Mr. Krzanich had a past consensual relationship with an Intel employee.

Kind of Implies something and gutter press will always go with Sex

 

[Deleted member 50521]

Talking about going out with a bang! No pun intended.

 

[dj-electric]

If you were a CEO with a multi-million dollar salary, I'm sure you would restrict yourself to dating and flirting

Absolutely not. No doubt. I would just not wanna be remembered as the guy who got fired by screwing a worker. I rather tell the press the real reason of leading one PR disaster after another.

 

[ssdpro]

No real overcorrection here @ssdpro . He was forced to resign because he violated a company policy (managers are not allowed to fraternize [have relationships] with anyone that is subordinate to them). It was noted that the relationship was consensual, so nothing morally wrong happened here.

That's the whole point. The policy is an overcorrection. The relationship was consensual and nothing was morally wrong. Policies like that are a lazy one size fits all overcorrection. It assumes all relationships are a problem and all relationships are nefarious in nature and all relationships are detrimental to the company.

 

[Disparia]

To be CEO is to be non-human. This is why we hire them at the salaries they draw. The board should not have to suffer such fools!

My building is 80% woman and some how my dick stays in my pants.

 

[Octopuss]

What the F?
Seriously?
What kind of idiotic nonsense is this?

 

[TheMailMan78]

If you were a CEO with a multi-million dollar salary, I'm sure you would restrict yourself to dating and flirting

Dude that guy was pounding it like a flank steak. Title of thread 100% fact. You don't get fired for flirting. You get fired for a board member seeing you getting the gorilla grip from your secretary.

On a side note this guy looks like he was flatting out some chick that looks like Toni Basil. Outfit and all and BAM! CFO walks in and is all like "WTF BRIAN! THATS WHERE I MAKE MY COFFEE!"

 

[dorsetknob]

On a side note this guy looks like he was flatting out some chick that looks like Toni Basil. Outfit and all and BAM! CFO walks in and is all like "WTF BRIAN! THATS WHERE I MAKE MY COFFEE!"

" Hello Brian "

 

[Caring1]

Why the assumptions he had sex with a female?