Intel CEO Brian Kraznich has resigned from his role at the chipmaker after allegations emerged that he had a 'past consensual relationship with an Intel employee'.
In an announcement on its website - where Kraznich's name has already been scrubbed from the leadership section - the vendor stated: "Intel was recently informed that Mr. Krzanich had a past consensual relationship with an Intel employee.
"An ongoing investigation by internal and external counsel has confirmed a violation of Intel’s non-fraternization policy, which applies to all managers. 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."
The non-fraternization policy at Intel applies to all managers and contains rules against having romantic relationships with employees that either directly or indirectly report to that manager, a spokesperson for Intel clarified for Computerworld UK.
The executive, who is married with two children, has been at Intel since 1982, when he joined as an engineer, and he took the CEO role in 2013. The company would not divulge details as to when the 'consensual relationship' in question took place.
Regardless of this internal scandal, of which details are sure to spill out, Kraznich was a man on the edge following the Spectre and Meltdown bugs with its chips arose earlier this year. Kraznich sold almost half of his shares in the company a few months later, as reported by CNN.
The chipmaker has appointed CFO Robert Swan as interim chief executive officer, effective immediately.
"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 said in a statement.
Intel's stock price has been falling since the announcement.