Intel CEO Resigns Over Affair With Employee

CNBC reports:

Intel’s Brian Krzanich is out as CEO and chairman of the board following an investigation into a “consensual relationship with an Intel employee,” the company announced Thursday. Chief financial officer Robert Swan will step in as interim CEO, effective immediately.

“An ongoing investigation by internal and external counsel has confirmed a violation of Intel’s non-fraternization policy, which applies to all managers,” the company said in a statement. “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.”

Intel grossed $63 billion last year.