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Transcript

00:00:01
>> Intel CEO Brian Krzanich resigned Thursday after the company uncovered a past consensual relationship with an employee that violated company rules. In a statement, Intel said, an ongoing investigation by internal and external counsel has confirmed a violation of Intel's non-fraternization policy, which applies to all managers. Reuters Breaking News columnist Rob Cyran says Krzanich was in the middle of his strategy to push Intel into new businesses.
00:00:31
>> So Krzanich was CEO for about five years, there's a bit of a legacy. While he was there, the PC market's been in decline. Over the past, I think it's about 16 quarters, has declined quarter after quarter after quarter. And that business still provides over half of Intel's profits.
00:00:46
So what Krzanich is trying to do is he's trying to get the company into new markets that can replace that. And one of them has been automotive. While he was there, he bought a company, or Intel bought a company called Mobileye, big acquisition, they are producing chips for self-driving cars.
00:01:01
Obviously, that's gonna be a huge market. It's very new now. So the question is can a new CEO come in and make Intel a leader in this?>> With his immediate departure, Intel will be led by chief financial officer Robert Swan as interim CEO. And the company says a search has already begun for a permanent leader.
00:01:22
Krzanich is the latest in a line of powerful men to lose their jobs as the MeToo movement has put pressure on companies to disclose and deal with behavior and relationships viewed as inappropriate. Intel declined to give any further information about the probe. The company shares fell about 2% on Thursday.