Brian Krzanich steps down as Intel CEO

Intel Chief Executive Officer (CEO) Brian Krzanich on Thursday resigned after the company learned of a consensual relationship that he had with an employee.

In lieu of Krzanich's resignation, Intel's Chief Financial Officer (CFO) Robert Swan will take over as the company's interim CEO, reported The Verge.

According to reports, the relationship that led to Krzanich's departure occurred sometime back, but the company was only recently informed about it.

"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," read a statement from Intel.

The company further noted that Krzanich's immediate resignation was accepted to show "that all employees will respect Intel's values and adhere to the company's code of conduct."

It also claimed that the board of directors has "a robust succession planning process in place and has begun a search for a permanent CEO, including both internal and external candidates."

Krzanich, who joined Intel in 1982, had been serving as the CEO since May 2013.