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Intel's latest director has found a new job faster than his former company.
Former Intel CEO Brian Krzanich, 58, took a position on Wednesday at the head of an Illinois-based company called CDK Global. Krzanich, who spent 36 years at Intel, resigned in June after the company discovered what she called "a consensual relationship with an Intel employee," in violation of the company's policy. 39; company.
CDK Global provides technology and digital marketing to the automotive and retail industries. These were markets on which Krzanich had focused during its five years of operating Intel, but they are much smaller than Intel's core business as as the leading supplier of microprocessors for the global computer industry.
And CDK is a much smaller company, with an annual turnover of $ 2.3 billion. Intel expects more than $ 67 billion in revenue this year.
At Intel, Krzanich has focused on diversifying its business, away from its long-standing dependence on the sluggish PC market and the steady rise in sales and share prices of Intel. However, the company suffered heartbreaking layoffs, a high turnover rate, and a troublesome setback in its core manufacturing technology, which took several years behind schedule in delivering the next class of 10-nanometer computer chips Intel.
CDK did not immediately indicate what he was going to pay Krzanich. Intel has estimated its compensation for 2017 at $ 21.5 million. The headquarters of the company is located in a suburb of Chicago. Krzanich lived in Silicon Valley, near the Intel headquarters.
CDK shares fell by 2% early in the session; The company also announced Wednesday quarterly financial results.
Intel continues to search for Krzanich's replacement. Interim CEO Bob Swan, who is also Intel's chief financial officer, said he was not a candidate for the position, and Intel said he was going to look in and out. outside the company the next CEO.
– Mike Rogoway | twitter: @rogoway | 503-294-7699
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