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Intel CEO Krzanich steps down after company uncovers past relationship with employee

Intel Corp. Chief Executive Brian Krzanich has resigned from the company effective immediately, the tech giant said Thursday, after he was found to have violated company policies through a past relationship with another employee.

In a release, Intel INTC, -1.93% announced that an investigation by internal and external counsel found that Krzanich violated the company’s “non-fraternization policy” when he had a “past consensual relationship” with someone else at the company. Intel’s policy “applies to all managers,” the company said.

Shares of the company are down 1.8% in morning trading, while the Dow Jones Industrial Average DJIA, -0.65% is down 0.5%.

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