- Trump called for the immediate removal of Intel CEO LIP-BU TAN in a social media post on Thursday. Post follows the criticism of Tan from Arkansa’s Senator Tom Cotton, who has questioned his connections to China. Tan was appointed CEO of Intel in March.
The Intel shares declined by more than 3% on Thursday with the trade in the morning after Donald Trump called on social media that the company’s CEO “resigned immediately”.
Lip-Bu Tan was appointed CEO of Intel in March and replaced Pat Gelsinger. Senator Tom Cotton (R-Mark) has questioned Tan’s connections to Chinese companies in the past few days and has been concerned about criminal proceedings cadence Design, where Tan worked as a CEO in a letter to the company’s chairman by 2021.
“The Intel CEO has come into conflict and has to step down immediately. There is no other solution for this problem. Thank you for your attention for this problem!” He wrote.
Intel did not react immediately Assets‘s application for a statement on Trump’s demand.
Reuters Has reported Tan has invested at least 200 million US dollars in a number of Chinese companies, including some with the country’s military. This led to earlier criticism of him from the investment world.
“The simple fact is that Mr. Tan is unreservedly to serve as the head of a company that competes against China, let alone one with actual secret services and national security effects such as Intel and his enormous legacy connection to all areas of the American secret services and the defense ecosystem,” Andrew King told Reuters.
He was also CEO from Cadence at a time when the company exported illegal semiconductor design tools to a People’s Republic of China Military University. (Cadence okay to be guilty To these fees and paid a fine of 140 million US dollars last month.)
Tan’s appointment for CEO was at Intel At first cheering investors. The shares rose by 10% in the news at the beginning of this year and it was considered extremely qualified and was the first outsider to ever appointed a leading company in the company. He supervised plans Reduce 25,000 jobs This year the company exceeded the analyst expectations in its recent income.
Trump, who fits into the matters of the management of a non -governmental company, is unique, but not without precedent. In 2009 Barack Obama asked the CEO of General Motors To step down, but that was part of a state restructuring plan for the car manufacturer, which included an aid package for GM.
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