Intel: CEO abruptly leaves after relationship with employee

(CercleFinance.com) - Intel said late on Thursday that Brian Krzanich, its CEO, was leaving the company immediately after having a relationship with an employee, violating the company's code of conduct applying to managers.


Intel has begun to look for a permanent CEO, interviewing both internal and external candidates. In the meantime, the US chipmaker has named chief financial officer Robert Swan as interim chief executive officer.

"The management shake-up which follows is interesting, and a positive," said Pierre Ferragu, an analyst at New Street Research.

"The overall portfolio of initiatives likely requires some streamlining. It will be much easier to engage on these fronts with a new outsider CEO," he said.

On an even brighter note, the company said second-quarter revenue and earnings would exceed prior guidance, and announced that 2018 will be "another record year."

These comments led to the Intel stock rising in pre-market trading today.

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