LOS ANGELES/SAN FRANCISCO (Reuters) - Electric car maker Tesla Inc's move last week to cut 9 percent of its workforce will sharply downsize the residential solar business it bought two years ago in a controversial $2.6 billion deal, according to three internal company documents and seven current and former Tesla solar employees. The latest cuts to the division that was once SolarCity - a sales and installation company founded by two cousins of Tesla CEO Elon Musk - include closing about a dozen installation facilities, according to internal company documents, and ending a retail partnership with Home Depot Inc that the current and former employees said generated about half of its sales.
Krzanich led Intel as rival chipmakers ate away at its dominance in the technology over several decades and he also presided over a series of high-level executive departures. The change in leadership comes as Intel expands beyond personal computers and servers into areas such as artificial intelligence and self-driving cars, where smaller competitors including Nvidia Corp (NVDA.O) are strong. The board named Chief Financial Officer Robert Swan as interim CEO and said it has begun a search for a permanent CEO, including internal and external candidates.
When Intel announced the resignation of its CEO Brian Krzanich on Thursday the whole world was surprised. Harvard Professor David Yoffie had been an Intel board member for 29 years until he stepped down in May. And he was as shocked as the rest of the business world when Intel announced on Thursday, just one month later, that CEO Brian Krzanich was resigning effectively immediately. Krzanich left Intel after the board discovered he had a relationship with an Intel employee, violating the company's rules about managers "fraternizing" with their employees, Intel said.