Intel CEO Krzanich resigns after violating company's 'non-fraternization policy'

Shares in Intel Corp. are up 2.4% in premarket trading Thursday after the company said its chief executive officer Brian Krzanich has resigned after violating the company's "non-fraternization policy." Intel said it recently became informed that Krzanich had a "past consensual relationship with an Intel employee" but investigations by internal and external counsel showed that he violated the policy, which applies to Intel managers. "Given the expectation that all employees will respect Intel's values and adhere to the company's code of conduct, the Board has accepted Mr. Krzanich's resignation," the company said in a release. Chief Financial Officer Bob Swan will serve as Intel's interim CEO effective immediately. Intel's stock is up 55% over the past 12 months, while the S&P 500 has gained 14%.