Intel chief executive Brian Krzanich has resigned, the chipmaker announced Thursday.
The company said in a statement that he violated Intel's non-fraternization policy, which applies to all managers, after a consenual relationship with another employee.
"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.
Krzanich had been at the company since 1982 and appointed chief executive in 2013.
Robert Swan, the company's chief financial officer, has been appointed as Krzanich's replacement.
Intel board chairman Andy Bryant said he was "confident" in Swan's ability to lead the chipmaker while a search for a permanent chief executive has begun.
Intel said it expects to report second quarter revenues of approximately $16.9 billion and earnings of 99 cents per share.
Wall Street was expecting $16.3 billion in revenue and earnings of 85 cents per share.
Intel will report its second quarter results on July 26.