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 in a statement.
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 said in a statement, “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.
Source: Intel Corporation
MacDailyNews Take: An ignominious end.
Too busy courting & diddling employees instead of creating faster and more innovative products? It’s best for all concerned to start thinking more with the big head and not the small one exclusively.
God gave man TWO heads………………..
Unfortunately, not enough blood to run BOTH at the same time!!!
He wanted his chips and eat it too.
A few months ago I read an article on “progressive” HR” at major companies. This is a perfect example of the policies coming onto the scene. Other examples in the article
If practical, avoid having a male and female travel together. Setup travel with all male or all female teams.
Mixed teams on travel should avoid a situation where a rental vehicle results in a male/female pairing.
Business lunch or dinner with 1 man and 1 female are to be avoided.
Incoming “sales lead” or “customer relationship” calls where someone from a third party speaks and violates policy will be shelved, documented and reviewed.before proceeding.
Given the reality that more men are in serior roles, those busines s trips and lunches will leave the less experienced person back at the office — a backfire on progress.
This conservative reaction may point to the wearing of Burqas which is not what the Me Too movement, nor feminism (the equal empowerment of women) is about.
There are people at big corporations who sit around all day thinking about “risk abatement”..
They then set policies to minimize (abate) risk. To a corporate HR lawyer, MeToo is just one more “risk” to abate. No different than the risk of an employee drunk driving a company owned vehicle, an employee using their laptop to run their eBay “head shop”, or an employee posting secret info on Twitter, etc.
Here is a list of 30 examples.
https://simplicable.com/new/risk-mitigation
Sure. The more one owns the more effort it takes to protect it.
I know of no company that doesn’t have “non-fraternization” clauses, progressive or not. And it really shouldn’t be a clause, but idiots like this MAKE it so.
Why is leaving the less experienced person back at the office a backfire? If you’ve got less experience, WHY would anyone want you representing their business?
Jesus! How is a guy who does not patronize bars or online dating services supposed to get laid then? Oops. I apologize to the “Me Too Movement.” That leaves church and grocery stores. Blah.
More like, “How does someone without a social life have a social life!” The only people that see non-fraternization as a limitation are folks that REALLY aren’t social, but are forced to have people talk to them as a part of their job. Actual social people are out in the world, enjoying life, and have myriad opportunities to meet with and be social with people that aren’t just trying to get the latest numbers for the quarterly report.
“Sure, she SAID she just wanted the numbers, but the way she just hung around until I gave them to her, I KNOW SHE’S THE ONE!!”
What a foolish thing to do.
I wonder, who among us would like to be competing with the consensual partner of the CEO for a promotion ? What manager would like to choose for a promotion between two people one an ordinary employee, the other the lover of the CEO? This guy literally set himself up. Amazing!
Really, these guys just don’t get it.
Good for intel.
Dare we say misplaced priorities? Not focusing on the job at hand?
Maybe the new CEO will get Intel back on track? Lets hope so!
Just what Intel needed, if they had serious competition they would have died long ago.
I am a CEO myself. Small company, 10 people. But would not have my great wife and my wonderful kids if I would not have ende up in a relationship with my colleague. I also hired her by myself and fell in love some weeks later. We are together since over 15 years now and raising our two Children as good parents, what they say. Can this really be wrong?
Yes. 🙂 Just because sometimes a story has a happy ending doesn’t mean the means to that end was just.
Wait, “colleague” i.e. someone on the same level as you OR subordinate? Seeing as you are the CEO, unless person was ALSO CEO, then subordinate. And, yeah, wrong.
Whats the big deal… it was consensual… people have relationships.. so do CEOs.. Where is the most likely place they will meet someone?.. where they spend most of their time.
Now infidelity is another issue and thats between him and his wiife and family..
Sigh
“people have relationships.. so do CEOs”
And smart CEO’s keep those relationships OUTSIDE the company.
Smart posters read the whole post
If u live in Mexico.. … odds are you wont have a relationship with a Japanese person.
If you live in Mexico and you’re the FRIGGIN CEO OF INTEL, odds are you will have a relationship with WHOMEVER the heck you want. I’m not even a CEO and I can find one out of SEVERAL BILLION people in the world that don’t work at my company to date. 🙂