 "‘Have full backing’: Intel CEO responds to Trump’s call for resignation, ready to clear ‘misinformation’")
Intel Corp. CEO Lip-Bu Tan said he had the complete support of the company’s board, replying for the first time to US President Donald Trump’s request for his resignation due to conflicts of interest.
Tan has contacted the White House to clear up what he calls “misinformation” about his track record, according to a message to employees posted on Intel’s website.
On Thursday Trump said on Truth Social platform that, “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’s post landed after Sen. Tom Cotton sent a letter to Intel Chairman Frank Yeary expressing concern over Tan’s investments and ties to semiconductor firms that are reportedly linked to the Chinese Communist Party and the People’s Liberation Army, and asked the board whether Tan had divested his interests in these companies to eliminate any conflicts of interest.
It was not immediately clear on Thursday if Tan, who took over as Intel’s CEO in March, had divested his interests in the companies.
The economic and political rivalry between the US and China are increasingly focused on computer chips, AI and other digital technologies that are expected to shape future economies and military conflicts.
Intel said in a statement that it’s “deeply committed to advancing US national and economic security interests and are making significant investments aligned with the President’s America First agenda.”
Impact Shorts
More ShortsTan also addressed the situation, saying in a message to employees that there was misinformation circulating about his past roles at Walden International and Cadence Design Systems and that he’s always followed proper standards.
Tan also said Intel was in contact with the Trump administration.
“We are engaging with the Administration to address the matters that have been raised and ensure they have the facts,” Tan said. “I fully share the President’s commitment to advancing US national and economic security, I appreciate his leadership to advance these priorities, and I’m proud to lead a company that is so central to these goals.”.
The company’s stock rose slightly in premarket trading on Friday.
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