Intel chief resigns over relationship with employee
New York, June 22 : Chipmaker Intel has announced that its chief executive, Brian Krzanich, is stepping down with immediate effect because of "a violation of Intel's non-fraternisation policy".
He had been in the post since May 2013. Intel said an inquiry had revealed that Krzanich had had a consensual relationship with an Intel employee, which was against company rules, BBC reported on Thursday.
His successor has been named as Robert Swan, currently the company's chief financial officer. The company said the relevant policy applied 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 Krzanich's resignation."
Krzanich's departure is the latest high-profile exit amid pressure on companies to address issues around gender relations and office conduct.
Intel's shares fell 2 per cent in morning trade as investors reacted to the news. The company said it would conduct a search to find a permanent successor to Krzanich, who first joined Intel in 1982.
During his tenure, Intel worked to move beyond its reliance on personal computers and expand into areas such as data. Intel board chairman Andy Bryant said the firm appreciated Krzanich's "many contributions".
"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," he said.
Intel also told investors it expected a record performance in 2018. In the first three months of the year, the company reported $4.5 billion in profit on more than $16 billion in revenue.
However, Intel also faced questions this year after it revealed security flaws in its chips months after researchers identified the problem.
Investors and lawmakers also questioned stock sales by Krzanich during months when the firm was aware of the problem but had not disclosed it.
Intel said at the time that the sales were tied to a pre-arranged plan.
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First-ever life-size Vivekananda statue in US unveiled in Seattle
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New York (PTI): The first-ever life-size statue of Swami Vivekananda in the US was unveiled in Seattle, honouring the renowned Indian philosopher and spiritual leader.
The life-size bronze statue, installed at the busy Westlake Square in downtown Seattle, is the first such installation hosted by a city government anywhere in the US, officials said.
Sculpted by Indian artist Naresh Kumar Kumawat, it was jointly unveiled on Saturday by Seattle Mayor Katie Wilson and Consul General of India in Seattle Prakash Gupta.
"From Chicago 1893 to Seattle 2026! Seattle's skyline has a new Indian icon: Swami Vivekananda! City of Seattle becomes the first city government to host the Swami Vivekananda Monument in the heart of downtown Seattle," the Consulate General of India in Seattle said in a social media post.
Addressing the event, Wilson said the monument reflects Seattle's inclusive spirit and strengthens cultural ties between India and the diverse metropolitan tech hub in the US Pacific Northwest.
The statue has been gifted by the Indian Council of Cultural Relations (ICCR) to the City of Seattle in recognition of its "in recognition of the city’s rich multicultural character and spirit of inclusivity", the Indian mission in Seattle said in a statement.
The unveiling of the statue was held on the occasion of the celebration of ICCR Day and is part of India's broader cultural diplomacy initiatives aimed at strengthening people-to-people ties between India and the US Pacific Northwest, the Consulate said.
Located at the bustling Westlake Square, which sees over 400,000 visitors daily, the monument stands near prominent landmarks including the Amazon headquarters ‘Spheres’, the Seattle Convention Centre and the Seattle Centre Monorail.
The unveiling ceremony was attended by several local leaders, including mayors from cities in the Greater Seattle area, community representatives and members of the Indian-American diaspora.
Swami Vivekananda had delivered his historic address at the World’s Parliament of Religions in Chicago in 1893, introducing Hindu philosophy to a global audience.
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