Intel’s Brian Krzanich forced out as CEO

Intel Corporation today announced that the company's CEO Brian Krzanich has resigned to his role and a member of the Board of Directors. The Board has named Chief Financial Officer Robert Swan Interim Chief Executive Officer, effective immediately.  The company has recently informed that Mr. Krzanich had a past consensual relationship with an Intel employee and an on-going investigation by internal and external counsel has confirmed a violation of Intel’s non-fraternization policy, which applies to all managers. Intel is expected to deliver its second-quarter results with revenues of approximately $16.9 billion and non-GAAP EPS of approximately $0.99. Intel said that it will provide full second-quarter results and an updated outlook for the full year on the second quarter earnings call on July 26. In the meanwhile the Interim CEO, Swan will manage operations in close collaboration with Intel’s senior leadership team. Swan has been working as Intel'ss CFO since October 2016 and leads the global finance, IT, and corporate strategy organizations. He previously worked as CFO of eBay Inc. Earlier, he was CFO of Electronic Data Systems Corp and TRW Inc. Robert Swan, Interim Chief Executive Officer said: Intel’s transformation to a data-centric company is well underway and our team is producing great products, excellent growth, ...