I had long figured that Intel CEO Brian Krzanich’s job was in jeopardy because of the firm’s inability to deliver 10nm chip technology.
Nope.
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“Intel today announced the resignation of Brian Krzanich as CEO and a member of the board of directors,” an Intel announcement notes. “Intel was recently informed that Mr. Krzanich had a past consensual relationship with an Intel employee. An ongoing investigation by internal and external counsel has confirmed a violation of Intel’s non-fraternization policy, which applies to all managers.”
Yikes. Apparently, Krzanich was given two options: Resign or be fired. And he chose the former.
Succeeding Mr. Krzanich as interim CEO is Bob Swan—and, yes, I considered a swan song joke—who had been Intel’s CFO since 2016. Intel is looking for a permanent replacement. (I will also avoid the “Intel Inside” joke. Sorry.)
“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,” Intel chairman Andy Bryant said in a prepared statement. “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 part of the resignation announcement, Intel also revealed that it expects to deliver record second quarter results, with revenues of about $16.9 billion. So Mr. Krzanich can at least ride out with that little boost.
skane2600
<blockquote><a href="#285484"><em>In reply to Markiz von Schnitzel:</em></a></blockquote><p>It's very difficult to determine how much of a company's success is directly tied to a manager or whether it just happened to occur on their watch. Avoiding a conflict of interest can be more important than the contribution of a single individual. </p>
skane2600
<p>"I had long figured that Intel CEO Brian Krzanich’s job was in jeopardy because of the firm’s inability to deliver 10nm chip technology."</p><p><br></p><p>I think a CEO's ability to "deliver" anything is usually greatly exaggerated. </p>
skane2600
<blockquote><a href="#285552"><em>In reply to scotttech1:</em></a></blockquote><p>She'd probably do as a good a job as the average CEO. Yahoo was in deep decline long before she became CEO. </p>