Intel CEO Brian Krzanich has announced a surprise exit from the tech giant. Krzanich has announced he’s resigned effective immediately after it was discovered he had been having an undisclosed relationship with an Intel employee.
The relationship was described as a “past consensual relationship”, although it was still in direct violation of Intel’s non-fraternisation policy that applies to all managers. Intel said, “Given the expectation that all employees will respect Intel’s values and adhere to the company’s code of conduct, the board has accepted Mr. Krzanich’s resignation.”
As a result of Krzanich’s resignation, chief financial officer Robert Swan has stepped in as the interim chief executive officer.
“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,” said Intel Chairman Andy Bryant.
Well, well, well, where do I start from? Brian became the head honcho of Intel in 2013 and joined the company as an engineer way back in 1982. He has a Bachelors degree in Chemistry which shows you don't need an IT degree to ace this field. Brian has spearheaded Intel's venture in not just the CPU market but also autonomous vehicles, 5G networks, cloud computing, artificial intelligence and more of the emerging markets landscapes. Hence he was the real driving force behind Intel's diversity.
It's not all shiny though. During the recent years, he has come under fire for potential flaws in Intel CPUs such as the infamous Meltdown and Spectre vulnerabilities. Subsequent updates resulted in degradation of performance of the CPUs as well as other potential bugs. He sold off his shares in the company after these controversies and retained only those as per his employment agreement.
Even though Intel may have had a patchy year with AMD's strong offerings and the flaws in their processors, it's still managed to make a record $16.9 Billion revenue in Q2 2018 which is impressive, to say the least.
What are your thoughts on this latest controversy? Are there any potential candidates who can take over the CEO position at Intel?