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Intel CEO resigns after "consensual relationship" with employee

Love at the office

Intel chief executive Brian Krzanich is stepping down after the chipmaker learned he had a "past consensual relationship" with an employee.

The relationship violates Intel's non-fraternization policy, which applies to all managers, the company said. Krzanich is also leaving his role on the company's board of directors. 

Chief Financial Officer Robert Swan was named interim chief executive officer, effective immediately.

"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 company said in a statement

Details of the relationship between Krzanich and the employee weren't disclosed. 

Krzanich, 58, served as Intel's CEO since 2013. He joined joined Intel in 1982 as an engineer.

Shares of Intel fell 81 cents, or 1.5 percent, to $52.65 in early trading. 

With the emergence of the #MeToo movement, many companies are tightening their policies around office relationships, especially between managers and lower-level employees. 

Cases such as Wynn Resort's Steve Wynn, who is accused of sexual misconduct at his company, have fueled the #MeToo debate over workplace sexual harassment and the politics of office romances. 

-- The Associated Press contributed to this report

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