CEO of Intel steps down

Leading California-based technology firm Intel has revealed that its Chief Executive Officer, Brian Krzanich, has departed the company after an investigation into his personal relations with another employee was conducted.

Within the announcement the company named its current Chief Financial Officer Robert Swan as the new Interim CEO of Intel, tasked with overseeing its operations in collaboration with the rest of the company’s leadership team on a day to day basis.

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“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,” said Intel Chairman Andy Bryant.

“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.”

As CFO for Intel, Swan has led the finance, IT and corporate strategy organisations within the company, whilst also having worked as the CFO of Ebay for a period of nine years and CFO of Electronic Data Systems Corp prior to this.

Further, Intel has now begun to conduct a thorough internal and external search for a long term replacement to Krzanich, with the expectation begin that it will recruit a leading and experienced industry name.

“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,” Swan said. “I look forward to Intel continuing to win in the marketplace.”