Intel announces the immediate resignation of Brian Krzanich as CEO, after learning he had a "consensual relationship" with a fellow employee, a violation of Chipzilla non-fraternisation policies.

The company already has a replacement for Krzanich, at least in the interim-- CFO Robert Swan.

“The Board believes strongly in Intel’s strategy and we are confident in Bob Swan’s ability to lead the company as we conduct a robust search for our next CEO," chairman Andy Bryant says. "Bob has been instrumental to the development and execution of Intel’s strategy, and we know the company will continue to smoothly execute. We appreciate Brian’s many contributions to Intel."

Krzanich is a long-time Intel employee, having first joined the company as engineer after graduating in 1982. He climbed all the way to a management position in 1996, and was running supply chain efforts in 2007. He was appointed COO in 2012 and succeeded Paul Otellini as CEO in May 2013. The Krzanich era was one of record performance levels for Intel, even as the company continues to struggle to turn into a more general chip provider.

Of course, the world now wonders will lead the biggest chipmaker in the world. So far Intel has always picked leaders from the inside, with a system of executive grooming guiding potential leaders through the ranks, eventually naming them president. However Chipzilla currently has no president, and Krzanich has filled the Intel executive with outsiders.

Bloomberg points out one possible Intel CEO to be-- datacentre business leader Navind Shenoy, the only exec who has gone through the aforementioned grooming system. That said, the resignation announcement suggests Chipzilla is considering both internal and external candidates.

Go Intel CEO Brian Krzanich Resigns

Go Intel CEO Krzanich Resigns After Relationship With Employee (Bloomberg)