Trump demands Intel CEO Lip-Bu Tan resign immediately over China conflict claims
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The news: Donald Trump demanded the immediate resignation of Intel CEO Lip-Bu Tan, calling him “highly conflicted” in a post on Truth Social.
The post did not include evidence or details about the alleged conflicts of interest.
Trump’s comments followed a letter from Republican Senator Tom Cotton raising concerns about Tan’s ties to China, including investments in a number of the country’s semiconductor companies and a recent criminal case involving his former firm, Cadence Design.
The context: Trump’s post continues his long-running practice of publicly pressuring private-sector companies through social media. His interventions on platforms like X and Truth Social have previously contributed to temporary drops in company share prices. If Tan were to step down, it would mark another instance where Trump’s presidential influence has extended into boardroom decisions.
His demand also comes after Reuters reported in April that Tan invested at least USD200 million in hundreds of Chinese chip and advanced manufacturing firms, some linked to the Chinese military.
Tan took over as Intel CEO in March following Pat Gelsinger’s removal. He previously ran Cadence Design Systems, which pleaded guilty to illegally selling software to a Chinese military university believed to be involved in simulating nuclear explosions, according to Reuters.
Tan also invested heavily in Chinese chip firms through his venture capital firm, Walden International.
Trump’s demand comes as Intel remains central to Washington’s efforts to rebuild the domestic semiconductor industry. The company has been awarded nearly USD8 billion in Chips Act funding, the largest amount granted to any company, including for a facility to supply the US military.
However, due to financial constraints, Intel delayed the opening of its Ohio chip factories until at least 2030, drawing criticism from Ohio Republican Senator Bernie Moreno, a close Trump ally, who said the company failed to meet its commitments and called for a fraud investigation.
The numbers: Intel shares fell over 3% following Trump’s post.
What they said: "The CEO of INTEL is highly CONFLICTED and must resign, immediately. There is no other solution to this problem. Thank you for your attention to this problem!," Trump posted.
The sources: Reuters, Financial Times, Bloomberg
