2018 has been a tough year for Intel as the silicon vendor has been playing defense, responding to multiple security issues related to the meltdown and spectre side-channel attacks.
At the center of the storm has been Intel's CEO Brian Krzanich, who has steadfastly defended his company and aimed to rebuild trust and confidence. While Krzanich has admirably handled Intel's security challenges, he apparently violated the company's code of conduct in a personal matter and on June 21 announced his immediate resignation.
"Intel was recently informed that Mr. Krzanich had a past consensual relationship with an Intel employee," Intel stated in a press release. "An ongoing investigation by internal and external counsel has confirmed a violation of Intel’s non-fraternization policy, which applies to all managers."
Krzanich had been at Intel since 1982 as an engineer. He became the company's Chief Operating Officer in 2012 and was promoted to CEO in 2013, succeeding former CEO Paul Otellini.
Under Krzanich's leadership, Intel sold off the McAfee security business in 2016, which was originally acquired in 2010. He also helped position the company as a player in the emerging market for embedded Internet of Things (IoT) devices.
Intel has appointed current CFO Bob Swan as the company's interim CEO while an executive search gets underway for a permanent replacement.
"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 wrote in a statement. "Bob has been instrumental to the development and execution of Intel’s strategy, and we know the company will continue to smoothly execute."
Swan has been Intel's CFO since October 2016 and had previously served as the CFO of eBay.
"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 stated. "I look forward to Intel continuing to win in the marketplace."
Sean Michael Kerner is a senior editor at ServerWatch and InternetNews.com. Follow him on Twitter @TechJournalist.