Intel CEO Brian Krzanich has resigned after a probe found a consensual relationship with an employee violated company policy.
The head of the largest U.S. chipmaker is the latest in a line of powerful men in business and politics to lose their jobs or resign over relationships viewed as inappropriate, a phenomenon highlighted by the #MeToo movement.
“An ongoing investigation by internal and external counsel has confirmed a violation of Intel‘s non-fraternization policy, which applies to all managers,” Intel said in a statement.
The board named Chief Financial Officer Robert Swan as interim CEO and said it has begun a search for a permanent CEO, including internal and external candidates.
Intel declined to give any further information about the probe. Its shares fell 2 percent.
The company’s board was informed a week ago that Krzanich had a mutual relationship with an employee in his chain of command in the past, according to a source