Intel Corp on Thursday said Chief Executive Officer Brian Krzanich has resigned, effective immediately after a probe revealed that a past consensual relationship with an Intel employee violated company policy. “An ongoing investigation by internal and external counsel has confirmed a violation of Intel’s non-fraternization policy, which applies to all managers,” the company said in a statement.
The board named Chief Financial Officer Robert Swan as interim chief executive officer. Krzanich had been in the role since May 2013. Intel said its board has begun a search for a permanent CEO, including both internal and external candidates, and will hire an executive search firm to assist in the process. The company also forecast better-than-expected second quarter revenue and profit. Intel said it expects quarterly revenue of about $16.9 billion and adjusted profit of about 99 percent per share. Analysts on average were expecting revenue of $16.29 billion and adjusted profit of 85 percent per share.