US chipmaker Intel’s CEO has been urged to step down “immediately” by President Donald Trump, who has accused him of having problematic links to China. His statement on social media that CEO Lip-Bu Tan was “highly conflicted” seemed to be a reference to Mr. Tan’s purported stakes in businesses that the US claims have ties to the Chinese military. A president calling for a company executive’s resignation is not common.
In March, Mr. Tan was brought in to revive the tech behemoth, which was a pioneer in the US chips sector but has recently lagged behind rivals. The US government has allocated billions of dollars to support the restoration of the semiconductor manufacturing sector in the United States.
Intel stated in a statement Thursday that it was supporting Trump’s “America First agenda” by making large investments in the US. The statement said, “We look forward to our continued engagement with the administration.” Intel, the Board of Directors, and Lip-Bu Tan are steadfastly dedicated to furthering US national and economic security goals.
He recently informed investors that the company will be reducing its manufacturing expenditures, including those in the US, in order to meet consumer demand. To “right-size” the company, Intel has already laid off thousands of workers this year.
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