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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 Thexalon on Thursday June 21 2018, @04:25PM (12 children)
There are real reasons why it's a problem:
1. The partner higher on the totem pole can fire or otherwise professionally harm the other partner. That means that consent is always a bit questionable: Was the subordinate really into it, or were they trying to keep their boss happy?
2. The partner lower on the totem pole can extract perks and promotions from the boss. Especially if the higher-up partner is married to somebody else: "You know that promotion that just opened up? I'd like it. And I'm sure you want to continue to make me happy, right? And I'd hate for this compromising photo to end up in the hands of your spouse." And for that reason, any decision the boss makes about their subordinate bed-buddy is questionable.
3. Even if the subordinate doesn't try to extract perks, they will likely get them. Even if they aren't actually suited for the job that puts their office right next to the boss's, for instance.
Even if you're the CEO of a major corporation, there are millions of potential partners that don't work for you. Get off elsewhere.
The only thing that stops a bad guy with a compiler is a good guy with a compiler.
(Score: 2) by JoeMerchant on Thursday June 21 2018, @04:35PM (10 children)
Easy to say, but a big part of the CEO lifestyle is posturing that includes devotion to company business 24-7-365.24
Do you want to try for some "work-life-balance" with an outsider who you may only get to spend a few evenings a month with, or do you want to go for the Bezos method [businessinsider.com]: "Bezos thinks of his personal and professional pursuits as a "circle" rather than a balancing act." and develop a relationship with somebody you see more often?
🌻🌻 [google.com]
(Score: 3, Interesting) by Thexalon on Thursday June 21 2018, @04:50PM (3 children)
Mr Krzanich is married. If he wants to get some hanky-panky, he had and still has the option of his wife, who probably wouldn't mind getting some more attention. He's also rich, and could have hired escorts if he'd wanted to. Or he could have traveled to Nevada or somewhere else where prostitution is legal.
He had options other than an office affair. Getting into one was stupid, and he shouldn't have done it.
The only thing that stops a bad guy with a compiler is a good guy with a compiler.
(Score: 2) by JoeMerchant on Thursday June 21 2018, @05:58PM
This presumes that he wanted to keep that job and lifestyle. Between his pre-firing and post-firing lifestyles, I'd say that I prefer the post 100%.
🌻🌻 [google.com]
(Score: 2) by frojack on Thursday June 21 2018, @09:42PM (1 child)
He also owns a boat load of Intel stock, And unless he had a pre-nup with current wife, a great deal of that stock (and options) may fall into other hands - sometimes well more than half.
One has to wonder if Intel would have take this action if he and the other employee were both single.
The company said the relevant policy applied to all managers, but I wonder if it was only because he was married.
What about two Gay people. I hear rumors those folks are untouchable by HR.
No, you are mistaken. I've always had this sig.
(Score: 0) by Anonymous Coward on Friday June 22 2018, @07:10AM
That is a common misunderstanding. The guy from HR actually said that he "would not touch them with a ten foot pole." Presumably for the same reason that the pool is closed.
(Score: 2) by bobthecimmerian on Thursday June 21 2018, @05:02PM (4 children)
Nonsense. Most CEOs spend huge amounts of time at fancy dinners, charity events, and golf outings to 'maintain important networks of contacts in the industry'. 24-7-365 is a harsh lifestyle when you're an overworked entry level QA engineer at Intel. The 24-7-365 job of a Fortune 500 CEO has more luxurious leisure throughout the year than three months of Disney cruises. And if the pressure (Ha!) is too high, you can always collect your golden parachute and walk. The guy is estimated to be worth a hundred million, he's not hurting.
(Score: 4, Interesting) by JoeMerchant on Thursday June 21 2018, @06:14PM
which is part of that 24-7-365.24, even our VPs at a tiny little 1000 person company were playing the "whew! I just came from one company function before this Saturday party with your department's director and I've got to be at another one in an hour..." B.S. Same guy that if you ever attempted to talk to him casually without an appointment would throw down the "THIS BETTER BE IMPORTANT" vibe like the universe was facing imminent destruction if he was delayed more than 15 seconds and you'd better be using his infinitely valuable attention to defuse a bigger problem than THAT.
The better human beings I have known in those positions were actual human beings, would cop to the fact that they just came from getting a haircut at 2 in the afternoon, and that they might be on their way to meet their wife before 5pm, they were less stressed, much less stressing on the people around them, and also seemed to be more effective when you had their attention, by scheduled or chance meeting.
With thousands of CEO level positions around the world, I'm sure the game face is presented thousands of different ways, but if I read Intel's culture to be anything like the big traditionalists (IBM, AT&T, etc.) they're not going to put up with a lot of public displays of golf and luxury cruises between CEOish duties.
Absolutely. Nice private islands are only $30M or so, I would be stepping out when I got to 100M myself. I wonder if this might have been a play like a friend of my dad's made after high school. He went into the import business for items not yet legal in Canada at that time - did his work carefully but planned to be caught eventually, do the time, and then see where life takes him with all that he stashed away before getting caught. He ran for many years longer than he ever thought he could before getting caught, did 2 years in jail for his "first offense" and then basically retired at 30.
🌻🌻 [google.com]
(Score: 0) by Anonymous Coward on Thursday June 21 2018, @06:20PM (2 children)
A lot, but not huge amounts of time. Those events are likely to be embedded into travel to all parts of the globe, and while semi-enjoyable, are obligatory. You do not have much voluntary say over your time. Then there are the truly distasteful parts of the job, having to kiss market analysts' asses so they don't talk the stock down. Or having to close a plant because a supplier raised his prices. But the pay is great, and they are generally respected, unlike the QA engineers down in the trenches.
(Score: 2, Interesting) by Anonymous Coward on Thursday June 21 2018, @09:21PM (1 child)
I'm sick of this hero worship shit. Even if 100% of their time is taken up they spend it in the lap of luxury and don't run into problems like not having time to pay bills, or go to the bathroom. It's nothing like the way too busy's of single moms, enlisted military, and double shift factory workers. The only people who don't know better are people who have no experience ever being 100% busy.
When I was enlisted military I would often interact with 100% busy officers and dignitaries. I could tell that 100% busy for them and 100% busy for me were two entirely different things. Not only that but they're the ones to blame, if they had to go through life rushing through their meals, powerwalking everywhere and making the highlight of their day the moment they could hide in a closet to jack off then they'd probably have at least an extra hour of free time every day. But nobody will ever willingly subject themselves to that lifestyle, only other people.
Don't believe these candy ass motherfuckers when they regale you about their 4:30am workouts and 72 hours of meetings in 4 countries. Their lives aren't hard.
(Score: 0) by Anonymous Coward on Friday June 22 2018, @02:53AM
A lot of those who built their successful companies from nothing are probably telling the truth.
There are some people who need less sleep than others and have more "energy" than others, this is useful for starting companies from scratch. So they may expect the same "commitment" from those below if even though those below don't own most of the shares or any at all ;).
Look like a "9-5 slacker" and you don't get that promotion and that's where the faking comes in.
(Score: 0) by Anonymous Coward on Thursday June 21 2018, @09:11PM
He could have just done it during business travel. It happens a lot but we don't hear much about it because it's effective.
(Score: 2) by DannyB on Thursday June 21 2018, @06:39PM
What you say is quite true. But one doesn't have to be a CEO to find oneself in that difficulty.
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