Intel Names Swan CEO After Ex-Chief Krzanich Ousted Last Year

(Bloomberg) -- Intel names interim CEO Robert Swan as the company’s seventh CEO, after former chief Brian Krzanich was removed last year following an internal probe on his consensual relationship with an employee. Shares down 1.81% in early trading.

• Swan has also been serving as CFO since 2016 and will join the board
• "We must remain focused on playing offense and innovating for an increasingly data-centric world," Swan says in letter to employees. "We are evolving from a PC-centric to a data-centric company that builds the technology foundation powering the world’s innovations."
• Todd Underwood will assume role of interim CFO

To contact the reporter on this story: Yueqi Yang in New York at yyang492@bloomberg.net

To contact the editor responsible for this story: Chakradhar Adusumilli at cadusumilli@bloomberg.net

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