CDK said on Wednesday, Nov. 7, that it hired Brian Krzanich as its new president and chief executive. He also will join the software company's board.
Krzanich resigned from Intel in June after the company learned that he had carried on a consensual relationship with an employee. He had held the top job at the tech company for a little more than five years. He joined Intel Corp. in 1982 as an engineer.
Krzanich, 58, replaces Brian MacDonald at CDK Global, which has annual revenue of about $2 billion.
Separately, Illinois-based CDK also reported that net income in its fiscal first quarter rose 11% to $90.3 million, or 69 cents a share. On an adjusted basis, earnings were 89 cents a share, just above analysts' expectations of 88 cents. Sales fell 2% to $554.5 million.
Based outside of Chicago in Hoffman Estates, Illinois, CDK provides technology and marketing services to auto dealers in more than 100 countries. It serves about 30,000 retailers and most automotive manufacturers.
Shares of CDK fell 6.2% to $53.76.