President Trump on Thursday called Intel’s CEO Lip-Bow Tan to resign, indicating a slide in the technology company’s stock.
“Intel’s CEOs are highly disputed and should resign immediately,” Trump Posted Truth without providing social, additional details. “There is no other solution to this problem. Thank you for your attention to this problem!”
Intel did not immediately respond to CBS Manivatch’s request for comments. Its shares slipped on Thursday by 64 cents, or 3%, $ 19.77.
The President’s call for Tan’s resignation comes after Sen. Letter Intel President Frank Annie on Tuesday expressed concern over Tan’s investment and relationship with Chinese businesses.
Cotton wrote in the letter, “Shri Tan allegedly controls dozens of Chinese companies and has a stake in hundreds of Chinese advanced-building and chip firms.” “At least eight of these companies have allegedly formed relations with the Chinese People’s Liberation Army.”
Cotton mentioned the pool design system, multinational tech company, where Tan served as CEOs from 2009 to 2021, and which pleaded guilty Last week to export its products to a Chinese military university and transfer its technology to an affiliated Chinese semiconductor company without obtaining licenses.
“These illegal activities took place under Shri Tan’s tenure,” Cotton wrote.
The senator asked to answer a series of questions on TAN’s relationship for Chinese companies by 15 August.
Tan, a technology investor and experienced of the semiconductor industry, were appointed as CEO of Intel in March.
Contributed to this report.
