Intel CEO, Brian Krzanich, has resigned because of a "a violation of Intel's non-fraternisation policy". The BBC reports:
Chipmaker Intel has announced that its chief executive, Brian Krzanich, is stepping down with immediate effect because of "a violation of Intel's non-fraternisation policy".
[...] Intel said an inquiry had revealed that Mr Krzanich had had a consensual relationship with an Intel employee, which was against company rules.
His successor has been named as Robert Swan, currently the company's chief financial officer.
The company said the relevant policy applied 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 Register reports:
Intel chief exec Brian Krzanich has quit after his "consensual relationship" with an employee came to light.
Staff flings are frowned upon in US corporate tech world, and against Intel company policy. In a statement within the past hour, the chip maker said:
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 – who has two daughters with wife Brandee – will be replaced by interim CEO Bob Swan, who is otherwise the chief financial officer and an exec veep.
"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," said Intel chairman Andy Bryant in a statement.
How will this affect Intel's competitive efforts with respect to AMD, ARM, and Nvidia?
(Score: 5, Insightful) by Anonymous Coward on Thursday June 21 2018, @04:09PM (9 children)
> How will this affect Intel's competitive efforts...
I see the new guy is from Finance.
Once the bean counters get into the top positions it's usually pretty bad in the car business. Finance cuts budgets for R&D and styling, to save money short term. The finance crew also starts to think that they know a good car from a bad one and stick their noses in the engineering/design trenches--where they have little or no experience, a sure morale killer. Purchasing starts to squeeze suppliers and incoming part quality suffers. Fairly soon the cars are not as good and the spiral continues.
(Score: 1, Funny) by Anonymous Coward on Thursday June 21 2018, @04:27PM (8 children)
Is this a car analogy or are you predicting Intel's Swan song?
(Score: 2) by c0lo on Thursday June 21 2018, @04:35PM (1 child)
You mean... he's not actually predicting that Intel is gonna diversify in making bad cars for a while?
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 2) by takyon on Thursday June 21 2018, @04:40PM
https://www.cnbc.com/2018/01/09/intel-self-driving-cars-ces-announcements.html [cnbc.com]
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]
(Score: 2) by Runaway1956 on Thursday June 21 2018, @04:44PM
Intel doesn't sing. Just sayin'.
(Score: 2) by martyb on Thursday June 21 2018, @05:07PM (4 children)
Well, I did read the story summary and noticed:
Sure has all the makings of being a 'Swan' song. ;)
Wit is intellect, dancing.
(Score: 3, Interesting) by PartTimeZombie on Thursday June 21 2018, @08:57PM (3 children)
I'm with you martyb. The second or third question I ask at job interviews is something along the lines of: "What is the boss's background"?
If it is finance or accounting I don't take the job.
(Score: 2) by martyb on Friday June 22 2018, @12:25AM (2 children)
Ummm, thanks for the informative reply... but I was going more along the lines that the former CFO, soon-to-be-new CEO, was named "Robert Swan"... hence my assertion that it "Sure has all the makings of being a 'Swan' song. ;)"
Wit is intellect, dancing.
(Score: 2) by PartTimeZombie on Friday June 22 2018, @12:39AM (1 child)
Oh.
Whoosh!
LOL
(Score: 0) by Anonymous Coward on Friday June 22 2018, @03:01AM
BTW the original AC already made the joke - he capitalized Swan in swan song.
Martyb just emphasized the joke and then dissected it for you...