CDK Global on Wednesday named Brian Krzanich as its new chief executive officer and president, more than four months after he resigned from the top job at Intel following a probe that found he had a consensual relationship with an employee.
IT and digital marketing solutions provider CDK Global's current CEO Brian MacDonald will step down after just over a year at the helm.
Intel has not yet hired a replacement for Krzanich.
CDK issued the following statement on Krzanich's hire:
CDK Global, Inc. (Nasdaq: CDK), a leading enabler of end-to-end automotive commerce, today announced that Brian Krzanich, 58, former chief executive officer of Intel, has joined CDK Global as president and chief executive officer (CEO) and a member of the Board of Directors (Board).1 Krzanich succeeds Brian MacDonald who will assist in the transition.
"In evaluating the future of CDK, the Board and Brian MacDonald concluded that this is the right time to bring in a proven technology CEO to drive top-line growth and help CDK take full advantage of its many opportunities," said Leslie Brun, chairman, Board, CDK Global. "We are thrilled to welcome Brian Krzanich to CDK. With 36 years of experience at Intel, Krzanich combines an exceptional track record of creating shareholder value with exactly the right combination of technology and strategic leadership experience to enable CDK to deliver on its enormous promise. The Board has full confidence that he has the talent and expertise necessary to lead CDK as it pursues a growth strategy."
Krzanich served as Intel's CEO from May 2013 to June 2018. As CEO, he led Intel's corporate strategy and operations, including development of Intel's business model and identifying emerging technologies. Krzanich joined Intel in 1982, became a corporate vice president in 2006, and served until 2010 as vice president and general manager of Assembly and Test. He was senior vice president and general manager of Manufacturing and Supply Chain from 2010 to 2012. He became executive vice president and chief operating officer in 2012, responsible for global manufacturing, supply chain, human resources, and information technology.
"CDK has a leadership position in a dynamic and rapidly evolving automotive technology market, and I am energized by the chance to help grow this unique company and take it to the next level," said Krzanich. "The automotive industry is undergoing changes that will impact and present opportunities for dealers, OEMs, consumers and the technology ecosystem that serves them. I look forward to working closely with the CDK Board, management team and employees to enable CDK to meet its full potential to generate value for all of its stakeholders."
Brun added, "On behalf of the entire Board, I want to thank Brian MacDonald for the superb progress he has made in transforming CDK operations and cost structure, which has created a solid foundation for future growth and shareholder value-creation."
"I'm proud of the progress we've made at CDK and believe the company is ready to capitalize on the significant opportunities in front of it," said MacDonald. "Over the past few years, we have met our transformation plan goals and strengthened our commitment to our core products, while significantly improving our ability to meet customer needs. With the recent acquisition of ELEAD1ONE, CDK has enhanced its core automotive software capabilities and is well positioned for future growth. I am committed to a seamless leadership transition, and I wish Brian and our entire team success."
