Intel CEO Brian Krzanich resigned today after a corporate and outside investigation confirmed that he had a past consensual relationship with an employee in violation of the company’s non-fraternization policy that applies to all managers.
The electronics giant said it was recently informed of Krzanich’s relationship, which then triggered the investigations.
“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,” said Intel’s statement.
Intel’s non-fraternization policy also requires employees who see or believe someone acted inappropriately to report the activity.
CFO Bob Swan will head the company on an interim basis.
The company said it has a robust succession planning process and has begun a search for a permanent CEO. An executive search firm will help evaluate both internal and external candidates.
Krzanich joined Intel in 1992 and was elected CEO in 2013.