Intel Chief urged to step down by Trump
In a surprising turn of events, Intel Corporation's CEO, Lip-Bu Tan, has been called upon to resign by President Donald Trump. The President's call was made on his social media platform, citing Tan as "highly conflicted" due to his investments and business ties with numerous Chinese companies, some with reported links to the Chinese military.
The call for Tan's resignation follows a letter written by Republican Senator Tom Cotton to Intel Corporation's Board of Directors, expressing concern about Tan's potential impact on U.S. national security. Senator Cotton alleged that Tan controls dozens of Chinese companies and has a stake in hundreds of Chinese advanced-manufacturing and chip firms, at least eight of which reportedly have ties to the Chinese People's Liberation Army.
Tan, a Malaysian-born Singaporean who has served as Intel CEO since March 2021, denied wrongdoing, stating that he has always operated within the highest legal and ethical standards. He emphasized that misinformation was circulating about his past investments. Intel’s board has also expressed support for Tan, and the company is reportedly engaging with the administration on these concerns.
It's important to note that Intel's website lists Tan's previous position as CEO of Cadence Design Systems, a San Jose, Calif.-based software and tech firm, where he served for 12 years before joining Intel. In 2021, Cadence Design Systems pleaded guilty to illegally exporting technology to Chinese military-related entities during Tan's tenure.
The call for Tan's resignation has led to a drop in Intel's stock, with shares falling more than 3% in midday trading. However, Trump later met with and praised Tan just days after calling for his resignation, indicating a complex and evolving situation.
Tan is also a founding managing partner of venture capital firm Walden Catalyst, but no details about its investments or portfolio were provided.
The article does not provide evidence of a conflict of interest or any specific reason for the call for Tan's resignation, beyond the alleged ties to China and the Chinese military. The article also does not provide information about Tan's alleged ties to China or the Chinese People's Liberation Army.
This story is developing, and more information is expected to be released in the coming days. Stay tuned for updates.
- The request for Intel CEO Lip-Bu Tan's resignation by President Donald Trump signifies a potential shift in policy-and-legislation, as it revolves around foreign investments and business ties with China, a key subject in current politics.
- The controversy surrounding Tan's ties with Chinese companies and his alleged links to the Chinese People's Liberation Army has become a general-news topic, with the evolving situation affecting Intel's standing and potentially influencing future policy-and-legislation in the realm of politics.
