MUMBAI: Intel Corporation CEO and member of board of directors Brian Krzanich today announced his resignation for a breach of company policy involving a relationship with an employee.

Krzanich joined Intel in 1982 in New Mexico as an engineer, as the personal computer industry was beginning to take off. He had been trying to remake Intel into a more general provider of chips, expanding into new markets such as industrial systems and self driving cars, with the 2017 purchase of Mobileye for $15.3 billion. 

On Thursday in a statement  company said chief financial officer Robert  Swan will be interim CEO while the Board searches for permanent replacement. 
 
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” he added.  

Former CFO Robert Swan has been with Intel since october 2016 he oversees finance, information technology and corporate strategy. Swan previously spent nine years as CFO of eBay Inc. Earlier, he was CFO of Electronic Data Systems Corp. and TRW Inc. He also severed as  CEO of Webyan Group Inc.

In his new role, interim CEO Swan will be managing operations in close collaboration with Intel’s senior leadership team. 

Commenting on his new role Robert 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”.

The board has begun its search for a permanent CEO and is looking at both internal and external candidates.