According to the company that relationship was in violation of its non-fraternization policy, which applies to all managers.
A statement from Intel said: “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.”
While Chief financial officer Robert Swan will take over as interim CEO immediately, a search for a new CEO is now under way.
Swan has been Intel’s CFO since October 2016 and leads the global finance, IT, and corporate strategy organisations. He previously spent nine years as CFO of eBay Inc. Earlier, he was CFO of Electronic Data Systems Corp and TRW Inc.
Swan said that, “Intel’s transformation to a data-centric company is well under way and our team is producing great products, excellent growth and outstanding financial results. I look forward to Intel continuing to win in the marketplace.”