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Intel’s interim CEO Bob Swan gets the job permanently

Chip giant Intel has appointed Robert (“Bob”) Swan as its new CEO, seven months after giving him the job on an interim basis, following Brian Krzanich’s departure.

Krzanich resigned last June under somewhat peculiar circumstances, after he was found to have engaged in a “consensual relationship” with an employee a while back. The relationship, which only came to light much later, violated an internal “non-fraternization policy” that applies to all senior managers.

Swan began his career at General Electric and spent nine years as chief financial officer (CFO) of eBay. He later joined investment firm General Atlantic, before leaving to become Intel’s CFO in 2016 — a role he has continued to hold while serving as interim CEO.

Now, however, Swan will be 100 percent dedicated to the leadership position, as well as now joining the board. Meanwhile, Intel’s vice president of finance, Todd Underwood, is stepping into the CFO role on an interim basis, pending a permanent replacement.

“In my role as interim CEO, I’ve developed an even deeper understanding of Intel’s opportunities and challenges, our people and our customers,” Swan said in a statement. “When I was first named interim CEO, I was immediately focused on running the company and working with our customers. When the board approached me to take on the role permanently, I jumped at the chance to lead this special company.”

Swan is Intel’s seventh CEO in its 50-year history.

Source: VentureBeat

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