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.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Two injuries, one DNF, a DQ as India end messy World Relays campaign
Gaborone (Botswana) (PTI): Amoj Jacob and Ragul Kumar got injured during the men's 4x400m and 4x100 races respectively as India ended their World Athletics Relays campaign in disappointment on the second day of competitions here on Sunday.
The Indian camp had high hopes of making the 2027 World Championships in the men's 4x400m relay but the team did not finish (DNF) the race as Jacob suffered cramps and pulled out of the race after taking the baton from the first leg runner Dharamveer Choudhary. Rajesh Ramesh and Vishal TK were to run in the third and fourth legs.
Those teams which could not qualify for the 2027 Beijing World Championships by reaching the final round of each of the six relay events on Saturday were given another chance in the second qualification round on Sunday.
The top two teams in each of the two heats (in all six relay events) booked the Beijing ticket on Sunday.
India will now have to try and qualify for the World Championships through the Top Lists of the World Athletics, which is a long and tedious process.
In the men's 4x100m race, third leg runner Ragul Kumar fell down the track after failing to hand over the baton inside the exchange zone to fourth leg runner Gurindervir Singh, which clearly showed the lack of coordination among the runners.
Harsh Santosh Raut and Animesh Kujur ran the first two legs.
The Indian quartet was disqualified and Kumar was seen being taken away from the Field of Play with the help of the volunteers.
It was a comedy of errors in the case of the women's 4x100m race, which saw the baton being dropped during an exchange between first leg runner Tamanna and second runner Nithya Gandhe, though the Indians finished the race in 53.09 seconds.
Gandhe started running quite a distance, but after realising that the baton was not in her hand, she turned and ran back to pick it up.
The only silver-lining for the Indian contingent was the national record time in the mixed 4x100m relay race, though the quartet of Ragul Kumar, Nithya Gandhe, Animesh Kujur and Sneha SS finished sixth in heat number two with a time of 41.35 seconds, bettering the previous national mark of 42.30 seconds set in March in Chandigarh.
The mixed 4x400m relay quartet of Theerthesh P Shetty, Kumari Saloni, Nihal William and Rashdeep Kaur ended at fifth in heat number one with a time of 3 minutes and 19.40 seconds.
On Saturday, all the five Indian relay teams had failed to make it to the respective final rounds and thus missed out on the 2027 World Championships berths.
