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President Donald Trump on Thursday demanded the resignation of Intel CEO Lip-Bu Tan following reports and allegations that he has ties to China.
“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 on Truth Social.
The call comes just days after Arkansas Republican Sen. Tom Cotton raised concerns and pressed the chair of Intel’s board over the CEO’s alleged connections to China, questioning the integrity of the company and its impact on US national security.
In a letter earlier this week to Intel board Chair Frank Yeary, Cotton pointed to recent reporting on Tan’s Chinese investments. Reuters in April reported that Tan has personally and through various venture funds invested in hundreds of Chinese companies, some of which have ties to the country’s military.
“The new CEO of @intel reportedly has deep ties to the Chinese Communists. U.S. companies who receive government grants should be responsible stewards of taxpayer dollars and adhere to strict security regulations. The board of @Intel owes Congress an explanation,” Cotton wrote in a post on X, attaching the letter.
Intel and Tan did not immediately respond to requests for comment.
Shares of Intel (INTC) fell nearly 5% in premarket trading.
This is a developing story and will be updated.
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