This morning Intel made a formal press release to state that Brian Krzanich, now former CEO, has resigned. Current CFO Robert Swan is named as CEO in the interim while the company looks for a replacement. As Intel does not have an immediate replacement, the resignation seems to be a snap decision relating to what Intel calls ‘a past consensual relationship with an Intel employee’, and an expectation that employees adhere to a code of conduct.

Sources told CNBC that Krzanich violated a policy that said he could not have a relationship with an employee who directly reported to him. The relationship ended and took place "some time back," the people said. Its unclear with whom Krzanich had the relationship. The company was only recently made aware of the relationship, at which point they began probing and Krzanich was asked to resign.