Bekker's Blog

Blog archive

Intel CEO Krzanich Steps Down

An investigation into a past consensual relationship with an Intel employee has led to the ouster of Brian Krzanich as CEO of Intel after more than three decades with the chipmaker.

Intel announced Thursday morning that Krzanich, 58, was resigning his post and his seat on the Intel board. Chief Financial Officer Robert Swan was named interim CEO effective immediately, and Intel has begun a search for a permanent CEO.

According to a company statement, "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."

Krzanich has been CEO at Intel for five years, and started at Intel as a process engineer in 1982. Swan has been CFO at Intel since 2016, and held similar roles previously at eBay Inc., Electronic Data Systems Corp. and TRW Inc.

The bombshell comes just five days before Intel's second-quarter earnings call. Intel had a rough start to the year with disclosure of the Spectre/Meltdown security issues, related class-action lawsuits and questions about a Krzanich stock sale before the security flaws were made public.

Yet the company had a strong Q1 and Intel as a company is bullish about the just-ended quarter. Alongside the statement about the resignation, Intel raised its guidance for Q2. Intel now expects adjusted earnings of $0.99 per share on $16.9 billion in revenue, up from a previous forecast of 85 cents a share on $16.3 billion in revenue.

Posted by Scott Bekker on June 21, 2018


Featured

  • IBM Giving Orgs a Governance Lifeline in Agentic AI Era

    Nearly overnight, organizations are facing brand-new challenges caused by self-directed AI systems (a.k.a. agentic AI). Big Blue is extending them some help.

  • Microsoft Launches Integrated E-mail Security Ecosystem for Defender for Office 365

    Microsoft is expanding its e-mail security capabilities with the launch of a new Integrated Cloud Email Security (ICES) ecosystem for Microsoft Defender for Office 365.

  • Microsoft Joins Workday's AI Agent Partner Network

    Microsoft has become a key partner in Workday's newly launched AI Agent Partner Network, aligning with other industry leaders to integrate AI agents into enterprise workforce systems.

  • LinkedIn CEO Ryan Roslansky To Lead Microsoft's Productivity Initiatives

    In a strategic leadership realignment, Microsoft has appointed LinkedIn CEO Ryan Roslansky to oversee its consumer and small business productivity software division, encompassing Microsoft 365, Teams and AI-driven tools like Copilot.