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Intel CEO Resigns, CFO Stepping Up in Interim

Category: General News
Posted: 09:59AM

In a surprise announcement, Brian Krzanich has resigned as CEO and member of the board of directors of Intel. Chief Financial Officer Robert Swan will be the acting CEO, effective immediately. The reason behind the resignation is Mr. Krzanich had violated the company's non-fraternization policy by having a consensual relationship with another employee in the past. Both internal and external counsel confirmed it represented a violation and as all employees are expected to follow the company's code and respect its values, the resignation was accepted.

Robert Swan has been Intel's CFO since October 2016, leading the global finance, IT, and corporate strategy organizations. Prior to his position at Intel he was the CFO of eBay for nine years and before that he was CFO for Electronic Data Systems Corp. and TRW Inc. The company still expects to deliver a record second quarters with revenues reaching to $16.9 billion.

Source: TweakTown and Intel

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