An investigation by Intel found that Krzanichhad a “consensual past relationship” with an Intel employee, violating a non-fraternisation policy which applies to all managers at Intel.
Intel’s chief financial officer Robert Swan has been appointed interim CEO with immediate effect.
In a statement Intel chairman Andy Bryant said: “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.”
Intel added that it has “robust succession” plans in place and has started the search for a new permanent CEO, with the help of a recruitment firm.
Interim CEO Swan added: “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.”
But did Krzanich quit or was there a swift execution>