New York (CNN Business)Chipmaker Intel elevated Bob Swan to permanent CEO Thursday.
Swan has served in an interim capacity since CEO Brian Krzanich was forced to resign in June because of a "past consensual relationship with an Intel employee."
Swan had been Intel's chief financial officer. He becomes the seventh CEO in the company's 50-year history.
The company said its board had conducted a search of both internal and external candidates before settling on Swan.
"The board concluded after a thorough search that Bob is the right leader to drive Intel into its next era of growth," said Chairman Andy Bryant.
Last week Intel (INTC) posted record annual revenue of $70.8 billion, up 13% from 2017. It said it expects further growth in 2019.
Intel's fourth-quarter operating income, its first with Swan in charge for the full period, came in at $5.9 billion, which is up 14% from the previous year.
