President Donald Trump demanded on Thursday that Intel CEO Lip-Bu Tan resign from his position over his alleged ties to Communist China.
Republican Arkansas Sen. Tom Cotton raised concerns about Tan’s ties to dozens of Chinese companies in a Tuesday letter to the Intel Board of Directors, including some that reportedly “have ties to the Chinese People’s Liberation Army.” Trump stated on Truth Social that the only solution is for Tan to resign from his position.
“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 said.
Cotton pointed out that Tan had most recently served as the CEO of Cadence Design Systems, an electric design automation company that pleaded guilty on July 28 to “illegally selling its products to a Chinese military university” and transferring its technology to a Chinese semiconductor company. These actions reportedly happened while Tan was still CEO.
Tan, who became the Intel CEO in March, reportedly invested at least $200 million in over 600 Chinese companies over several decades, including at least eight with links to China’s military, Reuters first reported in April. He controlled over 40 Chinese companies and in many instances shared minority stake ownership with Chinese government entities.
“Intel is required to be a responsible steward of American taxpayer dollars and to comply with applicable security regulations,” Cotton wrote. “Mr. Tan’s associations raise questions about Intel’s ability to fulfill these obligations.”
Cotton also asked if Intel’s board of directors asked Tan to “divest from his positions” in semiconductor firms linked to China’s military or the Chinese Communist Party (CCP).
Intel’s stock has fallen as of Thursday, dropping over 3% following the market’s opening.
Intel did not immediately respond to the Daily Caller News Foundation’s request for comment.
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