Tuesday, 26 June 2018 09:22

Intel CEO Brian Krzanich Resigns Featured

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Intel announced that CEO Brian Krzanich, 58, has resigned.  Robert Swan, 57, Intel’s CFO has been named as the interim CEO. Intel was recently informed that Krzanich had a past consensual relationship with an Intel employee. A subsequent investigation resulted in the resignation.  Outside of the affair,  Kraznich’s reputation suffered as a result of two 2017 events:  (1) the  scary security flaws in two chips, named  Meltdown and Spectre,  and (2)  Krzanich’s stock sale of $24m, ahead of the security flaws being made public.

Ultimately, Intel’s first quarter results in 2018 were very strong, seemingly unaffected by the chips’ security flaws.

Kraznich  is an Intel veteran and had held the CEO position since May 2013. He joined the company as an engineer in 1982 and served as COO before being promoted to CEO.

As interim CEO, Swan will manage operations in close partnership with Intel’s senior leadership team. Swan has been Intel’s CFO since October 2016. He previously served as CFO of eBay, Electronic Data Systems and TRW. He has also served as CEO of Webvan Group.

The board has a strong succession planning process in place and has begun a search for a permanent CEO, including both internal and external candidates. The board will retain a leading executive search firm to assist in the process. There is much speculation on the succession plan.

Who do you think will take on the role?

Read 867 times Last modified on Tuesday, 26 June 2018 12:13
Dora Vell

Dora Vell is the Managing Partner of Vell Executive Search, a boutique executive search firm in Boston focused on recruiting technology executives and board members. Vell has successfully completed numerous board member and C-level executive searches, including CEOs, COOs, CIOs, and Vice Presidents - at both public and private companies.

Prior to founding the firm in 2005, Vell was a Partner at Heidrick & Struggles' Technology practice for seven years.  Before her career in executive search, she worked at IBM for 11 years, managing software engineering organizations of 100 people and software sales organizations with revenues of $150 million. She has also served as an executive assistant to the CEO of IBM Canada for one year.

Vell holds seven worldwide software patents. She has published several Business of Leadership reports on governance and leadership and has been quoted in numerous articles including The Wall Street Journal, Forbes, Business Week, Fortune, Agenda Week, MSNBC, Mass High Tech, the OPUS for the World Economic Forum, Boston Business Journal, The Globe & Mail, CIO Magazine, and IEEE. She also has been a featured speaker on leadership at numerous conferences and at Columbia University's MBA program.

Vell is a member of the National Association of Corporate Directors (NACD), the Boston CEO Roundtable. She has served on the boards of Framingham State, Entrepreneur's Organization, Goodwill, Mary Centre for developmentally handicapped adults, garage.ca, and RBC Capital Partners.

She has received an MBA from the University of Toronto, a Master in Computer Science from the University of Waterloo, and a Bachelor in Computer Science from Carleton. She has also completed the MIT Entrepreneurial Master’s program.

www.vell.com/

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