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Friday, 22 June 2018 05:17

Intel chief Krzanich quits over affair with staffer Featured

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Brian Krzanich has quit as chief executive of Intel. Brian Krzanich has quit as chief executive of Intel. Courtesy Intel

Intel chief executive Brian Krzanich has resigned after the company discovered he had a consensual relationship with a staff member in violation of Intel's non-fraternisation policy.

Krzanich was replaced on Thursday (US time) by chief financial officer Robert Swan who will function as interim CEO.

In a statement, the company said that an ongoing internal and external investigation had confirmed Krzanich had violated the policy which applies to all managers.

In January, there were reports that Krzanich had sold a tranche of stock and netted a healthy profit on the same day that Intel reportedly warned its OEM partners about the Meltdown and Spectre processor flaws. The two flaws were disclosed in January.

The French magazine LeMagIt  said it had obtained a secret memorandum sent to Intel's OEMs under an agreement that insisted on confidentiality and non-disclosure.

It said Krzanich had given instructions on 30 October 2017 for the sale of the shares and that this transaction was the subject of at least one class action in the US.

When news of Krzanich's share sale first broke, the company said that the sale was not related to the two flaws, “Brian’s sale is unrelated,” Intel said at the time. Krzanich “continues to hold shares in line with corporate guidelines".

Intel faces more than 30 lawsuits in connection with the two Meltdown and Spectre vulnerabilities.

On Thursday, 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 said Swan would manage operations along with the senior leadership team. He has been CFO since October 2016 and leads the global finance, IT and corporate strategy organisations. He previously spent nine years as CFO of eBay, served as CFO of Electronic Data Systems and TRW and as CEO of Webvan Group.

Swan said: “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.”

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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