Trump demands ‘highly conflicted’ Intel CEO resign over China ties
Chief executive Lip-Bu Tan has reportedly invested at least US$200 million in Chinese firms, including some linked to the Chinese military
US President Donald Trump on Thursday demanded the immediate resignation of new Intel CEO Lip-Bu Tan, calling him “highly conflicted” due to his ties to Chinese firms and raising doubts about plans to turn around the struggling American chip icon.
It was reported in April that Tan invested at least US$200 million in hundreds of Chinese advanced manufacturing and chip firms, some of which were linked to the Chinese military.
Trump’s comments came after Republican Senator Tom Cotton sent a letter to Intel’s board chair with questions about Tan’s ties to Chinese firms and a recent criminal case involving his former firm Cadence Design.
“The CEO of INTEL is highly CONFLICTED and must resign, immediately. There is no other solution to this problem,” Trump said in a social media post.
Intel shares closed down 3 per cent on Thursday.
A leadership change could pile pressure on Intel, which is a pillar of US efforts to boost domestic chipmaking. Last year, it secured US$8 billion in subsidies, the largest outlay under the 2022 Chips Act, to build new factories in Ohio and other states.