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They had so many reasons to push him out. I feel like the board has been aware of the relationship for a while, but they got together one day to figure out whic
by mtgx 8y ago
They had so many reasons to push him out. I feel like the board has been aware of the relationship for a while, but they got together one day to figure out which public reason to give for the ousting of Krzanich. And they chose this, which is probably the reason with the least negative impact on whatever is left of Krzanich' career. He may even get high-fives for it at his next gig.
At the end of the day, they had to get rid of him, not just for the insider trading, which is probably one of those "everyone does it" things in corporate America, but primarily because he seemed completely incapable of keeping Intel competitive against AMD's offensive over the next few years. Plus, under Krzanich's watch Intel lost its multi-year leadership in process technology.
- SimbaOnSteroids 8y agoNot just insider trading but getting caught so publicly is a bit problematic, especially if you're the SEC. I'm making a guess here but I wouldn't be surprised to here about a pending investigation into the incident that the board would rather distance Intel from before charges get filed.
- corpMaverick 8y agoThe easier way for Krzanich was to let him resign because "he wanted to spend more time with his family".
- Bartweiss 8y agoHonestly, I'm not entirely clear why people are saying this was him being forced out. Unless a CEO decides to fight the board, it's easy enough to just say "hey, you're done so pick a graceful reason to resign". There are plenty of "time with the family" resignations out there with no need to dig up dirt.
- lallysingh 8y agoI wonder if this reason was chosen due to various clauses in his contract. Perhaps it exempts him from a golden parachute, because it's misbehavior on his part? And even it he was also trading, this explanation doesn't put as much risk to the share price.